Published On: Tue, Oct 31st, 2017

Former KPMG tax consultant engaged in fraud case in Curaçao

Ralph-Palm-Ennia-KPMGWILLEMSTAD - A former tax consultant of KPMG in the Netherlands Antilles appears to be involved in the scandal surrounding Emsley Tromp, former President of the Central Bank of Curaçao and Sint Maarten (CBCS).

That reports Het Financieele Dagblad (a Dutch Financial Newspaper). The FD states that Ralph Palm was "one of the leading auditors of KPMG in the former Antilles.” However, Palm has never been an accountant; He was a tax consultant at KPMG Meijburg Caribbean and for years lead partner at KPMG Tax & Legal Services.

The scandal surrounding Emsley Tromp revolves around a retirement scheme. Tromp had been the President of CBCS since 1991. He was fired on October 17 this year because, according to the Public Prosecution (OM), from 2006 to 2014, he intentionally failed to file all income from his pension structure to the tax authorities. Among other things, he paid for the education of his children. During the hearings, Tromp was asked if he knew others using the same construction. In addition, he named the former tax consultant of KPMG Ralph Palm.

Palm was also chairman of the CBCS Supervisory Board for many years. In addition, he was both tax consultant of the CBCS and for Tromp, and since the 1990s chairman of ET Pensions, the foundation with which Tromp had been fraudulent. In addition, KPMG was the auditing accountant of CBCS when Palm was chairman of the CBCS Supervisory Board. Palm is currently Ennia's CEO, who is also involved in the scandal as a company. Justice in Curaçao did a search last week at Ennia.

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