Wed 31 Aug 2005
Global accounting giant KPMG has agreed to pay $456m (£255m) to settle a case related to past tax shelter sales.
The deal means KPMG will avoid potentially crippling criminal charges.
Read the rest here
So the question is, what should happen to the people who defraud a country out of $2.5 billion dollars worth of money? Shouldn’t the companies who took part in this with KPMG also be fined?
I find news like this to be much more important than some pissy little rainstorm in the south. The potential economic ramifications are just huge. But nothing will happen and the company only pays one FIFTH of what they stole from the people and life goes on.
August 31st, 2005 at 16:58:20
Some columnist in the Grauniad wondered a while ago why people got so het up about benefit fraud but didn’t pressure the government to close tax loopholes allowing the rich to get away with doing fuck all to contribute to the society that made them rich in the first place. Democracy will never benefit the majority while people are going after petty thieves instead of concerning themselves with grand larceny.