Wednesday, September 7, 2005
In court today, the nine individuals indicted in KPMG related prosecutions (see here) pleaded not guilty. Reported by Reuters here and Wall Street Jrl here, the lead prosecutor on the case then made a statement that there are likely to be twelve more individuals indicted soon.
Certainly a statement like this should be enough to get anyone near or associated with KPMG pretty nervous. But fortunately, they will not have to wait very long as the judge set an October 17th deadline for the prosecution to file its superseding indictment.
This deadline actually puts the pressure on all parties, as the government may be seeking pleas from the nine already indicted or the twelve in the forthcoming group. Certainly the government will need some pleas, as it might prove extremely difficult fitting that many attorneys and their clients in the courtroom in one trial.The question now is who will be at the defendant's table, and who will be in the witness box come October 17th.