Authorities prosecute Ernst & Young

3rd May 2007, Comments 0 comments

3 May 2007, ANTWERP - The Antwerp public prosecution department is taking Ernst & Young and Deutsche Bank to court for large-scale tax fraud, De Tijd reports.

3 May 2007

ANTWERP - The Antwerp public prosecution department is taking Ernst & Young and Deutsche Bank to court for large-scale tax fraud, De Tijd reports.

The authorities are holding the companies responsible for fraud involving 1.5 billion Belgian franks (more than EUR 37 million) in the sale of electronics chain Hugo Van Praag.

This is the first time that a large consultancy company and a bank are being prosecuted for fraud with a so-called cash box company.

Belgian Ernst & Young Registered Auditors, its subsidiaries E&Y Fiduciary, E&Y Special Business Services and E&Y Tax Consultants are being taken to court. Deutsche Bank and ING Luxembourg are facing the same fate.

[Copyright Expatica News 2007]

Subject: Belgian news

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