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Wednesday, February 15, 2006

HVB Cops Plea in KPMG Tax Shelter Fraud

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.

See:

Update:

http://taxprof.typepad.com/taxprof_blog/2006/02/hvb_cops_plea_i.html

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» HVB COPS SHELTER PLEA; DEUTCSHE BANK NEXT? from Roth & Company, P.C.
Serious activity on the tax shelter front this week: - HypoVereinsbank (HVB), a German Bank, entered a plea deal yesterday... [Read More]

Tracked on Feb 15, 2006 6:19:12 AM

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