Atty Group Backs School In $6M KPMG Fraud Detection Row

Law360, Boston (April 25, 2018, 4:14 PM EDT) -- The Massachusetts Academy of Trial Attorneys and a Boston-area housing authority this week submitted briefs backing a North Shore college in its bid to get the state’s top appellate court to reverse a decision throwing out a suit against Big Four auditor KPMG LLP for failing to catch a $6 million fraudulent loan scheme.

Merrimack College, a small liberal arts school in North Andover, Massachusetts, was misled for five years by its former director of financial aid who took out federal Perkins Loans in the names of unsuspecting students. Merrimack spent $6 million to pay back the students and cover other...

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