Hundreds of high-ranking company officials have been convicted in corporate fraud schemes since 2002, the Justice Department said Tuesday, a day after a federal judge threw out charges in one of the largest criminal tax cases in U.S. history.
Atty. Gen. Alberto Gonzales called the U.S. District Court ruling, in favor of 13 former KPMG employees, disappointing but said it wouldn’t deter the department from “pursuing wrongdoing where we think it exists.”
In all, federal prosecutors have won 1,236 convictions in corporate fraud cases and reaped hundreds of millions in payback for victims over the last five years, Deputy Atty. Gen. Paul McNulty said.
At least one-third of the convictions came against company CEOs, presidents, counsel and other high-ranking executives, McNulty said.