The former chief executive of [BDO Seidman] and six others were indicted in what authorities say was a wide-ranging criminal scheme that generated more than $7 billion in fraudulent tax losses.
The indictment filed Tuesday in federal court in Manhattan charges the seven with 27 separate counts that include tax evasion and conspiring to defraud the Internal Revenue Service.
Very difficult to see how this does not suggest systemic failure.
No doubt BDO will seek to justify why it doesn't.
Probably because he is the ex-CEO.
But it still does not feel good, and no one could spin that it does.