Kpmg Admits Creating Fraudulent Tax Shelters
Deseret News (Salt Lake City) › August 30, 2005
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Summary
NEW YORK -- Eight former executives of KPMG were indicted Monday as the Big Four accounting firm admitted it had set up fraudulent shelters to help rich clients dodge billions of dollars in taxes.
The firm, mindful of how criminal charges wrecked competitor Arthur Andersen in an Enron-related accounting scandal, avoided an indictment but agreed to pay $456 million in penalties.See the full content of this document
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Kpmg Admits Creating Fraudulent Tax Shelters
The Department of Justice called it the largest criminal tax case ever filed and said the KPMG scam allowed the firm's clients to avoid paying $2.5 billion in taxes.
Internal Revenue Service Commis...See the full content of this document
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