KPMG LLP’s former national managing partner for audit quality and a former staff member of the U.S. audit regulator were found guilty of multiple counts of fraud.
David Middendorf, the former firm leader, and Jeffery Wada, a Public Company Accounting Oversight Board inspections leader, were each convicted March 11 of wire fraud and conspiracy to commit wire fraud. But the Manhattan jury returned a split verdict, acquitting each of conspiracy to defraud the U.S. government.
Wada faces up to 60 years in prison and Middendorf faces up to 80 years, according to the U.S. Attorney’s Office for the Southern District ...
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