EY Denies Whistleblower Claims About Client’s Money Laundering

Ernst and Young LLP strongly denied claims by one of its former partners that it turned a blind eye to a Dubai gold company’s money laundering worth billions of dollars.

The suggestion “that EY Dubai somehow helped Kaloti to hide irregularities related to its acquisition of gold is baseless and is denied,” EY told Bloomberg Tax in an Oct. 29 statement.

One of EY’s former partners in Dubai, Amjad Rihan, took the firm to the High Court in London in January 2018, claiming that he was forced out after finding “major violations committed by EY’s audit client, Kaloti ...