Sunday, January 14, 2007

5th Person Pleads Guilty in KPMG Tax Case

In another twist in the KPMG tax case, we find that Michael Grandinetti, a senior executive with the United Micronesia Development Association (UMDA), pleaded guilty to making false statements. This is in the government's suit in the fraudulent tax shelters marketed by former partners of KPMG LLP. Grandinetti said that he lied to a prosecutor and an IRS agent when he told them in March 2006 that he had disclosed to the UMDA's board that he received secret side payments from a group of tax shelter promoters...

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