Friday, February 11, 2005

USATODAY.com - Report criticizes KPMG, banks

USATODAY.com - Report criticizes KPMG, banks:
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"In particular, investigators criticized the KPMG audit firm, two law firms and several investment banks, saying they worked together to promote shelters that featured paper losses and sham charitable contributions.
Investigators said KPMG made more than $124 million by aggressively marketing the deeply flawed shelters to wealthy investors while taking 'steps to conceal its tax-shelter activities' from federal tax authorities."

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