Search this site
Matching entries from Houston's Clear Thinkers
Judge Kaplan hammers the DOJ in the KPMG case
As widely anticipated, U.S. District Judge Lewis Kaplan dismissed all charges today against 13 former KPMG partners in the KPMG tax shelter case because of the prosecution's interference with the defendants' Constitutional rights under the Fifth and Sixth Amendments. A...
Threatening to go Arthur Andersen on KPMG
This earlier post noted how the shadow of the sad case of Jamie Olis continues to hang over the KPMG tax shelter case in New York, and this post explored how Olis' defense was financially undermined by the Justice Department's...
KPMG continues to play rough with its former partners
In this earlier post, I noted that KPMG's resistance to paying its former employees' defense costs in the KPMG tax shelter criminal case could end up being an element in prompting US District Judge Lewis Kaplan to dismiss the charges...
Who exactly is Judge Kaplan?
This Paul Davies/Wall Street Journal Weekend ($) article provides a profile of U.S. District Judge Lewis Kaplan, the judge who is at the center of the KPMG tax shelter case. Judge Kaplan is quite a character, as reflected by his...
What's that criminal charge again?
One big problem with the federal government's criminal case against the defendants in the KPMG tax shelter case is that neither the defendants nor any of their clients engaged in any affirmative act of evasion, such as keeping false accounting...
Is KPMG's tough stance helping its former partners in the tax shelter case?
In connection with negotiations over its non-prosecution agreement with the Justice Department in the KPMG tax shelter case, KPMG decided to give in to a DOJ "suggestion" and revoke in the tax shelter case its longstanding policy of paying defense...
Judge Kaplan sticks to his guns
Federal judges and prosecutors often have a cozy relationship. So, it was not particularly surprising that Southern District of New York U.S. Attorney Michael Garcia requested that U.S. District Judge Lewis Kaplan delete the names of federal prosecutors and his...
The fraying KPMG tax shelter defense
U.S. District Judge Lewis Kaplan's decision earlier this week was a major victory for the defendants in the KPMG tax shelter case because it at least gives the defendants the basis for obtaining the financial means for defending the case...
Criminalizing corporate agency costs and the KPMG decision
As noted earlier here, U.S. District Judge Lewis Kaplan earlier this week slapped the Department of Justice upside the head for threatening KPMG with indictment in the KPMG tax shelter case unless the firm threw its partners to the wolves...
Disparate results from overreaching prosecutions
Amidst a busy summer day, I pass along a rare and quick afternoon post on disparate results emanating earlier today from a couple of cases involving overreaching prosecutions of businesspeople. First, Peter Lattman (here and here), Dave Hoffman and Ellen...
Criminalizing the right to counsel
This earlier post examined the Justice Department's policy under the controversial Thompson Memo to threaten to go Arthur Andersen on companies that fulfill an obligation to pay defense counsel for current or former employees who are under criminal investigation or...
Certain KPMG tax shelter civil suits stayed
In an interesting development, U.S. District Judge Vaughn R. Walker in San Francisco stayed a series of civil lawsuits over the legality of some KPMG LLP tax shelters pending the outcome of parallel criminal proceedings against certain of the individual...
KPMG serves up more sacrificial lambs
As KPMG LLP attempts to survive as a going concern after cutting a deal with the federal government to avoid a criminal indictment in connection with its controversial tax shelter practice, the firm served up 10 additional criminal defendants for...
WSJ editors do better, but where have they been?
After criticizing the Wall Street Journal yesterday for running a listless article about prosecutorial misconduct in the Enron-related criminal cases, it's only fair to note that the WSJ editors do much better today in this editorial ($) (see this related...
In the wake of KPMG
Following on this post from last month, this New York Times article reports that, on the heels of KPMG's deferred prosecution agreement with the Justice Department and the subsequent indictment of eight former KPMG partners, federal prosecutors are apparently focusing...
The KPMG Memorandum
The KPMG tax shelter saga has been a common topic on this blog over the past year or so, and this recent post observed that -- even if KPMG fades a criminal indictment -- it is by no means clear...
KPMG noose tightens
On the heels of this post from yesterday, this NY Times article reports on the plea bargain of Domenick DeGiorgio, a 42 year old former managing director at the New York branch office of Munich-based HVB, (formally known as Bayerische...
KPMG strikes deal in tax shelter probe
You know that the criminalization of business in the post-Enron era has become routine when it's newsworthy that the government has decided not to use its prosecutorial power to prompt another Arthur Andersen-type meltdown of a major accounting firm. This...
WSJ on KPMG tax shelter investigation
This Wall Street Journal ($) article follows up on the status of the government's investigation into KPMG's tax shelter practice and emphasizes the involvement of lawyers (from the Wall Street firm, Brown & Wood) in the promotion of that practice....
KPMG tax shelter snags some big fish
A KPMG tax shelter that the Internal Revenue Service last year declared abusive snared a group of prominent American companies, reflecting the popularity of efforts to reduce corporate taxes has become. Here are earlier posts on KPMG's mounting problems relating...
IRS can discover identity of KPMG tax shelter clients
This NY Times article reports on federal Northern District of Texas Judge Barefoot Sanders' decision yesterday that upheld the Internal Revenue Service's efforts to obtain the names of two KPMG clients who bought a tax shelter that the IRS contends...
Feed Subscription
If you use an RSS reader, you can subscribe to a feed of all future entries matching '"KPMG tax shelter"'. [What is this?]
