US government to reveal ‘strategy’ in KPMG case

US government to reveal ‘strategy’ in KPMG case

Decision by judge a boost for defendants

A ruling by a federal judge in the complex tax shelters case involving 16
former KPMG executives has been hailed as a victory for the defense.

Lewis A. Kaplan, a Manhattan federal judge, said prosecutors must divulge
whether they intend to show that the products offered by KPMG were fraudulent in
their design.

This is expected to mean that government prosecutors will have to reveal some
strategy about how it plans to present its case, Reuters reported

They must now tell defendants by 21 April whether they believe the various
tax shelter were fraudulent ‘as designed as and approved by KPMG and, if so, in
what respects’.

In what is being called the largest criminal tax fraud case in history, the
US government has accused 16 former KPMG executives and two others of costing
the Internal Revenue Service at least $2.5bn (£1.43bn) in taxes over several
years by setting up allegedly bogus tax shelters for hundreds of wealthy
clients.

The defendants have said their conduct was lawful.

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