Reports say KPMG LLP is close to putting behind it a federal investigation into its sale of possibly illegal tax shelters.
Settlement talks that would allow KPMG to avoid indictment charges that could lead to its demise have been going on behind closed doors for most of the summer. A fine between $300 million and $500 million and an agreement to open its business up to independent monitors are likely conditions of any deal. The accounting firm would be placed on probation, and charges could eventually be completely dropped by the U.S. Attorney for the Southern District of New York.
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