PracticeAccounting FirmsKPMG tax shelter trial starts

KPMG tax shelter trial starts

Jury to be sworn in tomorrow as four face trial in complex case

The last four defendants in the KPMG tax-shelter case face the start of their
trial this week as jury selection begins tomorrow (Tuesday).
The trial of the remaining defendants – three ex-KPMG executives and a former
partner at law firm Sidley Austin – will begin with the selection of a jury and
is expected to last between three and five months.
The 2005 indictment alleged that between 1996 and 2005 the defendants put
together tax shelters that were designed to generate fake tax losses. It also
said the defendants prepared false documents to deceive the government.
In July this year, US District Judge Lewis Kaplan dismissed charges against
another 13 former KPMG partners, ruling that the government interfered with
their right to counsel.
KPMG itself avoided an indictment by settling the federal investigation in 2005
for $456 million.
The case involves some 24 million pages of documents and some legal experts say
the government could face an uphill task in proving its case.

Related Articles

Productive accountancy firms lead the way

Accounting Firms Productive accountancy firms lead the way

3d Simon Adcock, HSBC
LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

Accounting Firms LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

4d Fergus Payne, Lewis Silkin
BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

1w Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

2w Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

2w Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

3w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

3w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

3w Emma Smith, Managing Editor