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"Law360" featured Pace University's Lubin School of Business Legal Studies and Taxation Professor Frank Colella in "Ex-KPMG Partner, Regulator Found Guilty Of Info Theft"

03/15/2019

"Law360" featured Pace University's Lubin School of Business Legal Studies and Taxation Professor Frank Colella in "Ex-KPMG Partner, Regulator Found Guilty Of Info Theft"

...Frank Colella, a tax lawyer and certified public accountant who teaches business law at Pace University, said the wire fraud convictions were “not small potatoes,” but that the jury’s rejection of the conspiracy against the U.S. count suggests the charge may have been “a stretch” by prosecutors.

“It really basically boils down to what the PCAOB is,” he said. “It’s not a U.S. agency. It’s a not-for-profit organization.”

Post-trial motions, such as a request for the judge to acquit the defendants despite the jury’s verdict, are set to be filed and briefed in the coming months. Sentencing was scheduled for August.

The only remaining defendant in the case is David Britt, the former co-leader of KPMG's Banking and Capital Markets practice, who was granted a separate trial to begin in the fall at a closed-door hearing.

Read the full article.