The majority of investors enticed into KPMG’s tax shelter schemes look set to
accept a new compensation offer.
According to the New York Times, KPMG will pay about $150m (£83m) to
209 eligible investors if the deal is approved next month.
The revised settlement will give each investor an average of more than
A deal offering $195m (£108m) in September collapsed after 64 of the 264
investors chose not to take part, saying the agreement did not offer them enough
The new deal is likely to see 76% of investors taking part, according to
papers filed in the US District Court in Newark, New Jersey this week.
Last August, KPMG paid $456m (£253m) in a deferred- prosecution agreement
with US prosecutors over certain tax shelter schemes.
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting