October 21st in Uncategorized by jason2009 .

KPMG to be sued in Madoff civil lawsuit

KPMG as auditor of Madoff’s London based operation, Madoff Securities International Ltd, has been added to a claim by investors defrauded in Bernie Madoff’s huge swindle. Other additions to the civil lawsuit in New York were JPMorgan Chase and Bank of New York Mellon.

Referring to the claims to be made in the case, Reuters quoted lawyer Joseph Cotchett whose law firm carried out prison a interview with Madoff in July and months of investigation and interviews with former employees:

“KPMG …

Charles Tyrwhitt UK
 

KPMG as auditor of Madoff’s London based operation, Madoff Securities International Ltd, has been added to a claim by investors defrauded in Bernie Madoff’s huge swindle. Other additions to the civil lawsuit in New York were JPMorgan Chase and Bank of New York Mellon.

Referring to the claims to be made in the case, Reuters quoted lawyer Joseph Cotchett whose law firm carried out prison a interview with Madoff in July and months of investigation and interviews with former employees:

“KPMG never blew the whistle on fraudulent conduct”

Worse than that:

“The complaint alleges Bernard Madoff’s fraud was not accomplished in isolation,”

And worse still:

“[The Claim] alleges JP Morgan and the Bank of New York as well as powerhouse accounting firm KPMG LLP and their international counterparts, KPMG UK and KPMG International, were primary players necessary to accomplish the fraud.”

KPMG, JPMorgan Chase and Bank of New York Mellon did not comment on the claims.

  • Share/Bookmark

Leave A Comment.





Spam Protection by WP-SpamFree