The US judge presiding over the KPMG tax shelter case has delayed the start of the trial until early next year, to give the defendants more time to study prosecution documents.
On Wednesday, Judge Lewis A. Kaplan of Federal District Court in Manhattan postponed the commencement of the trial until January 15, 2007, because of government delays in turning over a large number of documents to the defence team. The trial was originally scheduled to start on September 11.
Under a process known as 'discovery,' the government had until October 5, 2005, to turn over documents to the defense. Judge Kaplan noted that the prosecution produced "a vast quantity of documents" for the defence after the deadline. However, he blamed both KPMG and the government for the delay.
The government could face legal sanctions if it fails to provide all necessary documentation by November 15, Judge Kaplan warned.
The 16 former KPMG partners, plus two others, are accused of helping wealthy clients of the accounting firm evade billions of dollars in taxes through the use of tax shelters such as Blips, Flip, Opis and Short Option Strategy.
In August 2005, KPMG agreed to pay $456 million in penalties to cover former clients who participated in the tax shelters.
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