Citrin compounded its misconduct by concealing its failure to file the relevant returns and hampering Purolites efforts to mitigate the harm Citrin caused by refusing to provide necessary records in its possession so that Purolite could belatedly file returns and related tax forms with governmental entities. You were treated as a professional. A war of words heats up over how and whether international taxes should be paid. Contact Email mfagan@citrincooperman.com. Purolite has requested that these regulators conduct a full investigation into Citrins professional negligence and take all actions warranted by its conduct, including revoking the licenses of Citrin Cooperman and the named individuals. The dispute centers on a complex part of the U.S. tax code known as Section 956, which is known as a minefield among tax practitioners, said Alice Abreu, professor of law and director of the Temple Center for Tax Law and Public Policy. Sylvie Gadant, Partner and Transaction Advisory Services (TAS) Practice Leader, Citrin Cooperman: Valuation multiples have remained healthy, despite the pandemic, as the demand for well-run. Founded in 1979, Citrin Cooperman is a leading provider of tax, accounting and advisory services for small and midsize businesses and high net worth individuals across a variety of end markets. Rooted in our core values, we provide a comprehensive, integrated business approach to traditional services, which includes proactive insights throughout the lifecycle of our clients wherever they do business, across the globe. citrincooperman.com, Laura F. Kucera,212-697-1000,https://www.citrincooperman.com/, Cision Distribution 888-776-0942 The lawsuit chronicles Citrins blatant incompetence, intentional concealment and extreme bad faith, which resulted in Purolites unwitting failure to meet its tax filing obligations. Citrin's malfeasance caused Purolite to suffer substantial harm and required the company to hire new accountants and lawyers to remedy the breach the accounting firm caused. The firm is resolved to ensure the truth comes out and is determined to protect the reputation of the firm, its clients and people. He turned out to be a sociopath, a charlatan and a con artist. Targum now spends sleepless nights, he said, worrying about losing his home and providing for his wife and children. [Source: Tip to GC] CliftonLarsonAllen 10% pay cut for employees firm-wide from May 1 until Dec. 31 Oct. 31 Aug. 1. The Newsletter Bringing the Legal System to Light. Employees to receive their pay that was cut from May 1 to Aug. 1 as of Oct. 19. We also use optional cookies to understand your engagement with the website, interact with social network accounts, and provide you with the best experience. Citrin now says the company owes additional taxes. articles a month for anyone to read, even non-subscribers. The resin maker, headquartered in King of Prussia, is suing its former accounting firm Citrin Cooperman. READ MORE: Here are the big tax headaches that could hit firms and employees who work from home. The lawsuit was. We are all deeply troubled by their baseless claims and their personal attacks," said Citrin Cooperman Co-Founder and CEO Joel Cooperman. Josh has extensive experience in the real estate, hospitality, international, retail, manufacturing, distribution, and professional services industries. An experienced auditor with a strong understanding of complex tax and accounting issues, Josh also provides services in the areas of civil litigation as well as buy-side and sell-side transaction advisory services. Public Records Policy. [ NEW] CohnReznick Our Website Uses Cookies. Furthermore, since our discovery of Citrins malfeasance, they have blatantly and repeatedly dissembled and hid the information we need to belatedly file the returns in question which has exacerbated our damages. For decades, family-run Purolite has sold specialty resins, gradually expanding sales to more than 30 countries. Please accept & submit to continue. Both victims have sued Weber and Citrin Cooperman to recover their money. Law360, New York (March 4, 2014, 4:35 PM EST) -- Multistate accounting firm Citrin Cooperman & Co. LLP and one of its partners were sued on Friday for fraud and theft, with several businesses. 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This year's survey explores how agile businesses are navigating industry issues, including reshaping product offerings, fortifying their business against supply chain changes, implementing artificial intelligence technology, leveraging forecasting tools, and more. Citrin's malfeasance caused Purolite to suffer substantial harm and required the company to hire new accountants and lawyers to remedy the breach the . Complicating matters has been the resignation and silence of the former Citron accountant who once oversaw Purolites tax preparation. All Rights Reserved. AboutCitrinCooperman:CitrinCoopermanis among the largest, full-service assurance, tax, and business advisory firms in the United States, having steadily built its business serving a diverse and loyalclientelesince 1979. Citrin Cooperman was a relaxed environment. DocketAFFIRMATION/AFFIDAVIT OF SERVICE (Motion #001) Affirmation of Service of Order to Show Cause dated November 16, 2020 and supporting papers, and Verified Petition; Filed By: Librera, K.; Filed: 11/19/2020; Received: 11/19/2020, DocketORDER TO SHOW CAUSE (Motion #001) seal; Filed By: Court User; Filed: 11/16/2020; Received: 11/16/2020, DocketADDENDUM - COMMERCIAL DIVISION (840C) (Motion #001); Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketRJI -RE: ORDER TO SHOW CAUSE (Motion #001); Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketMEMORANDUM OF LAW IN SUPPORT (Motion #001) Petitioner's Memorandum of Law in Support of Petition to Compel; Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketMEMORANDUM OF LAW IN SUPPORT (Motion #001) Memorandum of Law in Support of Petitioner's Application to Seal; Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketAFFIDAVIT OR AFFIRMATION IN SUPPORT OF PROPOSED OSC/EXPARTE APP (Motion #001) Affirmation of William M. Sunkel in Support of Petitioner's Application to Seal; Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketORDER TO SHOW CAUSE - ACCOMPANYING COMMENCEMENT DOC(S) (PROPOSED) (Motion #001) Order to Show Cause; Filed By: Librera, K.; Filed: 11/12/2020; Received: 11/12/2020, DocketEXHIBIT(S) - C *Corrected* Filed Under Seal; Filed By: Librera, K.; Filed: 11/09/2020; Received: 11/12/2020, DocketEXHIBIT(S) - B *Corrected* Filed Under Seal; Filed By: Librera, K.; Filed: 11/09/2020; Received: 11/12/2020, DocketEXHIBIT(S) - A *Corrected* Filed Under Seal; Filed By: Librera, K.; Filed: 11/09/2020; Received: 11/12/2020, DocketPETITION *Corrected* Verified Petition; Filed By: Librera, K.; Filed: 11/09/2020; Received: 11/12/2020. Purolite wanted copies of the papers, and then one day she quit without notice, Joel A. Cooperman, Citrins chief executive and co-founder, said in an interview. However, the work-life balance was right on point. However, Skadden disagreed. Purolite was founded in 1981 and is currently run by the Brodie brothers, Stefan and Don; sons Howard and Jacob also work at the company. An important Citrin partner was convicted of larceny and tax fraud for embezzling almost $1 million from several clients, two of whom were among his closest friends. Making the situation even hazier, Brislin has gone mute, declining to talk with either side. Great stepping stone The fight is now focused in large part over a complex tax issue of whether Purolite owed taxes on money booked by off-shore subsidiaries. The con is that advancement takes years. Why? To ensure the most secure and best overall experience on our website, we recommend the latest versions of. The combined entities of Citrin Cooperman & Company, LLP and Citrin Cooperman Advisors LLC are an independent member of Moore North America (MNA), which is itself a regional member of Moore Global Network Limited (MGNL). (Supreme Court of the State of New York, County of New York -- Index Number 650665/2014), 2023 Silver Miller View Our Disclaimer | Privacy PolicyLaw Firm Website Design by The Modern Firm, A SECURITIES FRAUD AND INVESTMENT LOSS CONTINGENCY-FEE LAW FIRM. Prior to joining Citrin Cooperman, Josh was the managing partner of Appelrouth, Farah & Co., P.A. [ NEW] 25% reduction in partner distributions from May 1 until Dec. 31. The company has over 250 partners and 1,300 employees spread across 16 offices in key US markets and in India. Among those accused in Canadian investor Surefire Dividend's civil lawsuit are Smith, auditor Sanville & Co., fund administrator Nottingham, and alleged coconspirator Iregui, who vouched for her strategy and helped persuade Surefire to invest roughly $46 million. His firm now contends that Purolites Brodie brothers owe up to $60 million in taxes, based on revenue that should have been reported to the U.S. government. Maryland (240) 516-6000 The leadership of Citrin Cooperman is confident that the facts will speak for themselves in the appropriate forum. About Citrin Cooperman: Citrin Cooperman is among the largest, full-service assurance, tax, and business advisory firms in the United States, having steadily built its business serving a diverse and loyal clientele since 1979. Citrin Cooperman entered the picture about six years after Plaintiffs began investing in the Funds when Carrow became the managing partner of its Philadelphia office. As a result, Citrin Cooperman denied their request. Files Malpractice Complaints with IRS and Other Accounting Regulatory Bodies for Citrin's Failure to File Purolite Tax Returns for Five Years and Additional Acts of Gross Professional Misconduct . Phone Number 215-545-4800. Why is this public record being published online? This case was filed in New York County Courts, New York County Civil Court located in Nassau, New York. Law360 (April 24, 2020, 6:10 PM EDT) -- A Philadelphia-area chemical company has slapped Citrin Cooperman & Co. with a lawsuit in state court alleging it suffered millions of dollars in. 2023 NYP Holdings, Inc. All Rights Reserved. Purolite Adds to Its Lawsuit Against Accounting Firm Citrin Cooperman and Its Principals for Professional Misconduct, Negligence, Forgery, and Fraudulent Misrepresentation Files Malpractice. When typing in this field, a list of search results will appear and be automatically updated as you type. If you have questions regarding our use of your information, please send an e-mail to privacy@citrincooperman.com. Phone and email messages went unanswered. Please visit www.purolite.com for more information. submit your information to us. As a business advisor with 18+ years of assurance, advisory, and tax structuring experience, Josh has led a significant number of buy-side and sell-side financial due diligence engagements. NEW YORK, March 4, 2021 /PRNewswire/ -- The partners of Citrin Cooperman issued the following statement in response to a press release sent to numerous outlets by the principal shareholders of a . "Citrin Cooperman" is the brand name under which Citrin Cooperman Advisors LLC and Citrin Cooperman & Company, LLP, independently owned entities, provide professional services in an alternative practice structure in accordance with applicable professional standards. Purolite was charged with multiple violations of the U.S. Trading with the Enemy Act (TWEA). Washington, D.C. (202) 852-6000, Targum, et al. Bardach knew the thieving accountant for 15 years and only found out about his missing $60,200 when the IRS emptied out my bank account to recover the funds, he told the judge. I want to personally warn you of the gross malpractice and professional misconduct committed against my company, Purolite, by our former accounting firm Citrin Cooperman, warned Purolites Stefan Brodie. Inexplicably, Citrin has refused to do so and continues to obfuscate in a blatant attempt to cover up its wrongdoing, Brodie said in a statement. The same holds true for being a good leader. Our Year in Review looks back on how pivots, staffing challenges, record-breaking M&A activity, and cybersecurity shaped our industries and future. If you do not agree with these terms, then do not use our website and/or services. Citrin Cooperman & Company, LLP is a licensed independent CPA firm that provides attest services, and Citrin Cooperman Advisors LLC and its subsidiary entities provide tax, advisory, and business consulting services. Our website requires acceptance of our cookie policy in order to successfully Purolite sued in 2019 and filed an amended complaint in 2021. A Philadelphia accounting firm has filed a breach of contract claim against an online business specializing in offering health and fitness advice over allegations that the defendant has a large outstanding bill for services.Attorney Francis X. Grimes, of the Jenkintown, Pa. firm Stock & Grimes, LLP, filed a civil action March 19 at the Philadelphia Court of Common Pleas on behalf of Citrin Cooperman & Company LLP.The lawsuit claims that King of Prussia, Pa.-based Internet Fitness LLC and Internetfitness.com Inc., have failed to compensate the plaintiff for accounting and tax services that the firm conducted on behalf of the defendants.Citrin Cooperman claims that it is owed $52,500.Despite repeated demand for payment by Plaintiff and or its representatives, Defendants have failed and/or refused to make payment on the invoices submitted to Defendants by Plaintiff, the complaint reads.The lawsuit accuses the defendants of unjustly enriching themselves by not having paid for the services provided by the accounting firm.The Plaintiff mailed to the Defendants account statements when the Defendants utilized the Plaintiffs services and continued to mail account statements reflecting account activity, and therefore, an account was stated by virtue of the Defendants receipt and acceptance of those statements, the lawsuit states. In response to our refusal to engage in unethical practices at the behest of the Brodies, Purolite is waging an aggressive campaign of harassment against the firm that includes false statements about Citrin Cooperman and its individual partners. An important caveat: The combatants that Purolite paid taxes during the disputed years and the IRS isnt currently auditing the company. Join us on our journey in assessing the past year so we canaccess the future. It operates a large office in Center City Philadelphia. There are also currently over 200 lawsuits listed online involving Purolite, its parent company, and various subsidiaries. Citrin Cooperman & Company, LLP is a licensed independent CPA firm that . NEW YORK, March 29, 2021 /PRNewswire/ -- In response to a lawsuit previously filed by former client Purolite Corp. and its coordinated harassment campaign seeking to tarnish Citrin. 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