EY has been reportedly linked to a money maundering operation as the firm failed to report operations related to a major crime organisation and thereafter altered a compliance report.
The Audit firm denies any wrongdoing while 27 member of the gang have been jailed.
The gang was laundering the profits of drug trafficking via a Kaloti company in Dubai, converting cash into gold, to after selling it back.
Billions of dollars (5.2) in 2012 only, were laundered using this scheme and according to the reports EY was aiding to complete the laundering.
The scheme included importing gold bars disguised as silver to prevent controls over import of gold limits.
Th lead Auditor Amjad Rihan stated having escalated the suspicion to his bosses, to after seen the reports diluted into no action.
Apparently EY rewrote the compliance reports using language to dissimulate the findings.
