More charges in KPMG tax scandal

Sept. 7, 2005 at 8:37 AM

NEW YORK, Sept. 7 (UPI) -- U.S. authorities intend to file additional criminal charges against nine people charged in a probe of accounting firm KPMG.

The nine already have pleaded guilty to charges of conspiracy to devise and sell fraudulent tax shelters, The New York Times reported Wednesday.

New charges against the nine, a former lawyer at Sidley Austin Brown & Wood and eight former partners at KPMG, could include tax evasion and obstruction of justice for hindering aspects of the government's investigation of the tax shelters, prosecutors said Tuesday.

The tax shelters were sold to about 350 people from 1996 to 2002 and cost the government at least $1.4 billion in unpaid taxes, and KPMG earned $124 million on those sales, Senate investigators have said.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Finland orders anti-tank weapon from Saab
Oil prices drop on Greek, Iran concerns
Orbital ATK's artillery guidance kit passes milestone test
Activists deploy against Shell's arctic plans
Fourth MUOS arrives in Florida for August launch