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Judge Dismisses KPMG Criminal Charge

Law360 (January 4, 2007, 12:00 AM EST) -- While KPMG’s legal worries are far from over, the accounting giant has one less case to worry about, after a judge dismissed a deferred criminal indictment filed against the company over allegedly illegal tax-shelter schemes.

Federal prosecutors levied the charge against KPMG as part of a deferred prosecution agreement reached in 2005.

Under the agreement, prosecutors said they would avoid indicting the firm itself on criminal charges on the condition that KPMG admit to participating in a conspiracy to defraud the U.S. government.

Prosecutors agreed to...
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