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March 7, 2006

NY Times: Tax Shelter Client Paying Ex-KPMG Partner's Legal Bills

Interesting article in this morning's New York Times, U.S. Says Tax Shelter Client May Be Paying Ex-KPMG Partner's Legal Bills, by Lynnley Browning:

When 17 employees from the accounting firm KPMG were indicted last fall on charges of creating and marketing questionable tax shelters, they suddenly faced a future of hefty legal bills. But at least one indicted partner has found a financial white knight, prosecutors believe. The government suspects that Gregg W. Ritchie, a former senior tax partner in KPMG's Los Angeles office, is having his legal bills paid by Gary Winnick, the founder and former chairman of the collapsed telecommunications giant Global Crossing, according to a recent filing by prosecutors against the 17 KPMG professionals.

March 7, 2006 in News | Permalink

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