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.
Revenue and profitability growth in on the rise for CPA firms, found a survey from the American Institute of CPA’s and its subsidiary CPA.com
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Carter Backer Winter has acquired Edwards Financial Services, expanding its financial planning department
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton