Last month, we learned about a trove of documents that revealed a creative tax planning strategy on the part of PwC. Now, we're learning the Luxembourgian manuevering wasn't limited to just one Big 4 firm. From The Center for Public Integrity: A new leak of confidential documents expands the list of big companies seeking secret […]
Share it with the kids! Is it me or does the accountant bear a striking resemblance to Bob Moritz? I'm sure it's just a coincidence. [YouTube, Earlier]
There's nothing quite like an enormous international corporate tax scheme, am I right? Sure, there are no shoot-outs or car chases, but that's the beauty of it — it's a heist that's not technically a heist and the villains aren't sociopaths, they're just bureaucrats and accountants with families and paychecks just doing their day […]
This just in:
KPMG in the US seems to have some tight purse to deal with, not sure that this is the case everywhere, check out what the Luxembourg firm is doing to keep people happy (around rather)!
Today in non-Lehman Brothers Ernst & Young news, the firm has been sued by a liquidator in Luxembourg just a few weeks after a Lux court ruled that individual investors couldn’t bring suits against UBS and E&Y. The suit seeks over $400 million in damages against the two firms. The Iriving Picard de Lux is Alain Rukavina, who filed the suit today.
BBW reports that “Rukavina is one of two liquidators who in December sued UBS and Ernst & Young over Access International Advisors LLC’s LuxAlpha Sicav-American Selection Fund, which once had $1.4 billion in net assets.”
A UBS spokesperson stated that this development was not unexpected and we’re sure that E&Y isn’t yawning at this news, chalking it up to fairly typical Monday.
So in case you’ve been in a coma for the last week or so, you’re probably aware that JT and Co. haven’t had such a great March. Anyone got ideas for how they turn all these frowns upside downs? Do Canadian Tuxedos become standard dress code M – F? Does Jimbo send everyone a complimentary pair of Timberlands? An E&Y Hitler video to lighten the mood? Suggestions are welcome.
UBS, Ernst & Young Sued by Madoff-Fund Liquidators [Bloomberg BusinessWeek]