KPMG Owes College Nothing For Missing $4.1M Fraud

Law360 (November 19, 2019, 3:29 PM EST) -- KPMG owes no damages to Merrimack College for not catching a former employee's student loan fraud during the years it audited the school's financial statements, a Massachusetts state jury decided Tuesday, holding that negligence by the school itself was largely to blame.

A Boston jury said negligence by KPMG was only 15% to blame for the failure to detect a Merrimack College financial aid official's fraud. (AP)

After deliberating for a day and a half, the Boston jury returned with a verdict mostly in favor of the accounting giant, even though the jurors found that KPMG's auditors had been negligent when...

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