By: Forbes Real Time
March 01, 2013 at 18:47 PM EST
Ernst & Young Pays $123M For Deferred Prosecution Agreement over Tax Shelters
Ernst & Young should be simultaneously breathing a sigh of relief and licking its wounds, wounds that are more than skin deep. The accounting giant agreed to pay $123 million to the feds to tie off a criminal investigation into the accounting firm’s hawking of tax shelters. E&Y may have dodged a bullet compared to Arthur Anderson, the once premier accounting giant that collapsed after the Enron scandal.
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