Diligence, LLC. has apparently settled charges that the firm interfered in a corruption probe conducted by the Bermudan government and KPMG FAS into the activities of the Bermuda-based IPOC International Growth Fund. (Read a little background).

KPMG brought their suit in DC District Court last year, alleging that Diligence had used bribery, deception, and computer hacking in order to get their hands of confidential information about an ongoing government inquiry into possible money laundering by the IPOC.

Another related civil action had also been filed against Diligence and law firm, Barbour Griffith & Rogers, which purportedly hired Diligence to do the snooping on behalf of LV Finance Group, a Russian firm that had been engaged in a long legal battle with IPOC.

According to that complaint, private investigators from Diligence posed as intelligence agents for the US and British governments (bit of a no-no, there) in order to convince KPMG FAS employees to turn over information regarding the ongoing IPOC money laundering investigation.

While the ongoing legal maneuvering had been held very close to the vest, according to KYCNews and the Bermuda Royal Gazette, it appears that Diligence has settled its way out of trouble for $1.7 million.

-- MDT

Labels: bribery, KPMG, money laundering