Wednesday, February 15, 2006
From the Corporate Crime Reporter:
The German bank Bayerische Hypo-Und Vereinsbank AG (HVB) admitted today to criminal wrongdoing for its participation in the KPMG tax shelter fraud. But the prosecution against the company was deferred by agreement with the U.S. Attorney in Manhattan. The company will pay $29.6 million in fines, restitution and penalties.