Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: BDO USA, LLP
Current Parent CompanyBDO International
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $50,000,000
Year: 2012
Date: June 13, 2012
Offense Group: financial offenses
Primary Offense: tax violations
Mega-ScandalAssisting Tax Evasion
Violation Description: The United States Attorney for the Southern District of New York and the Internal Revenue Service announced that BDO USA, LLP (formerly BDO Seidman LLP) admitted to criminal wrongdoing and agreed to pay $50 million to the United States in connection with its participation in a tax shelter fraud scheme that generated at least $6.5 billion in phony tax losses for wealthy clients.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-Southern District of New York
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: Belgium
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: business services
Specific Industry of Current Parent: accounting services
Source of Data(click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.