• The KPMG Tax Shelter Indictment: Misguided on the Merits
  • April 16, 2008 | Author: Kathryn Keneally
  • Law Firm: Fulbright & Jaworski L.L.P. - New York Office
  • Eighteen individuals are currently set to stand trial in the Southern District in New York, on charges concerning tax-structured transactions sold by KPMG to its clients, known as BLIPS, SOS, FLIP and OPIS. Faced with a possible indictment and resultant destruction of its business, KPMG cooperated with the government in the investigation and entered into a deferred prosecution agreement admitting criminal liability. The pending indictment...