KPMG: $456 Million Fine, Seven Indicted

The other shoe dropped on KPMG today. According to this story, KPMG will pay a fine of $456 million, accept an outside auditor, and shut down its tax practice for high net-worth individuals within six months. Additionally, seven former partners were indicted.

You can find full roundups on this story at Roth & Company Tax Updates and the TaxProf Blog.

This entry was posted on Monday, August 29th, 2005 at 11:30 pm and is filed under Tax Evasion. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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