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KPMG Can't Duck Ponzi Fraud Claims, NY Appeals Court Says


December 02, 2020

In this Law360 article, Sills Cummis & Gross is listed as successfully representing Bankers Conseco Life Insurance Co. and Washington National Insurance Co. on an appeal in the Supreme Court of New York, Appellate Division against KPMG. According to this article, “A New York state appeals court ruled that a lower court wrongly tossed insurers’ claims that accounting firm KPMG assisted in an alleged Ponzi scheme operated by defunct hedge fund Platinum Partners, finding that KPMG clearly knew of the alleged fraud when issuing a capitalization valuation that convinced the insurers to invest."