Trial of 16 former KPMG executives postponed by judge
Accountancy Age, 15 Nov 2006
The billion dollar criminal trial of 16 former KPMG executives accused of selling illegal tax shelters has been postponed indefinitely by the federal judge hearing the case.
It is a major setback for the US Department of Justice as it is one of the most high-profile white-collar crime cases it has brought to trial, with the partners accused of helping clients avoid paying billions of dollars in income tax.
The postponement follows prosecutors for the US attorney's office being heavily criticised by Judge Lewis Kaplan for their role in pressing KPMG to cut off legal fees to its former employees.
In a ruling given this week, Kaplan said: 'Given all of the current uncertainties, it is impossible now to predict with confidence when the charges in the indictment may be tried.'
Further reading:
KPMG and ex-partners square off in US
Date set for KPMG fees hearing
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