The US Government has been accused of abusing its powers in the prosecution of alleged wrongdoers. Now the prosecutors are getting their own back. They have asked the court to reinstate criminal charges against 13 former KPMG partners who were let off for peddling dubious tax shelters
A judge has dismissed charges against 13 former partners of accounting giant KPMG. US attorney general Alberto Gonzalez says the US Government will be appeal but as the judge pointed out, there has been a fundamental violation of rights where the Government denied people the right to defend themselves in court.
Documents reveal that KPMG, to get out being prosecuted for selling fraudulent tax shelters, threatened to leave more than 1000 companies without an auditor. The US Justice Department caved in and the firm got away with it.
The Netherlands has emerged as the new tax haven for corporations and rock stars. Benefits for the Netherlands, not to mention big companies like Sun Microsystems and Coca-Cola, but it hurts smaller companies and economies and facilitates money laundering
