PHILADELPHIA - An accountant, a lawyer, and a tax-shelter packager agreed to pay $1.1 million to settle allegations that they participated in filing false statements with two federally insured thrifts.

The case is significant not only for the size of the civil penalties but also because professional advisers were charged as individuals, not corporate entities, said Assistant U.S. Attorney Brian Carroll.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.