More charges in KPMG row

There are likely to be more charges laid against those involved in the KPMG
tax shelter row, the prosecutor who led the probe said yesterday.

David Kelley stood down as US attorney for the southern district of New York
yesterday, indicating as he did so that the investigation was not complete.

‘We expect more individuals to be charged. It is an ongoing investigation. We
are not targeting any one area of the whole tax shelter business, but we are
looking at it from top to bottom, from side to side, and where there are banks,
law firms, individuals and taxpayers and so forth involved, we are going to
investigate,’ he told the FT.

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