If you have questions regarding our use of your information, please send an e-mail to privacy@citrincooperman.com. Overnight on Wall Street is daytime in Asia. 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. submit your information to us. v. Citrin Cooperman & Company, LLP, Matthew Weber, et al. 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. A disgraced former partner for the prestigious Manhattan accounting firm Citrin Cooperman was carted off to serve at least three years prison today for embezzling almost a million dollars from. 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. [ NEW] CohnReznick The former client has included a number of inaccuracies in their press release and has named individuals in both their press releases and litigation who have had no involvement with the Purolite account. Please accept & submit to continue. He also enjoys running marathons, traveling, and spending time with family and friends. 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 damages as . His work in the real estate sector involves overseeing assurance engagements for private real estate funds and overseeing the tax compliance for the respective funds, joint ventures, and international reporting for foreign investors. New York-based Citrin Cooperman said on Wednesday it has acquired fellow New York firm Berdon, in a deal that should place the combined firm among the 20 largest in the U.S. with annual. Florida (954) 516-6000 Purolite also recently issued a press release and engaged in targeted media outreach in further attempts to run a smear campaign against Citrin Cooperman. 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. Purolite sued in 2019 and filed an amended complaint in 2021. Washington, D.C. (202) 852-6000, Targum, et al. For its part, Citrin, based in New York City, now employs 1,350 staff in 19 locations and books $320 million in revenues annually. Bloomberg Daybreak Asia. The lawsuit chronicles Citrin's blatant incompetence, intentional concealment and extreme bad faith, which resulted in Purolite's unwitting failure to meet its tax filing obligations. All Rights Reserved. And no state forms were filed from 2015 through 2017. The Judge overseeing this case is Eileen Rakower. We stand by the firm's decision to refuse to prepare the tax returns in question and look forward to pursuing all legal remedies available. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. The company runs 40 sales offices worldwide. Citrin has a documented history of professional malfeasance, including failure to file client tax returns and lying about it. The case ID number is 130302676. It says its $30 million demand reflects money in federal taxes, interest and penalties they might owe should the IRS audit the firm. A disgraced former partner for the prestigious Manhattan accounting firm Citrin Cooperman was carted off to serve at least three years prison today for embezzling almost a million dollars from two of his closest friends and the estate of convicted Westchester County wife-murderer Werner Lippe. When Purolite first discovered Citrins dereliction of duty in mid-2019, Purolite immediately confronted Citrin and demanded explanations, documents, copies of returns and other relevant paperwork. This case was filed in New York County Courts, Supreme Court Civil Term located in Washington, New York. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, This has long been a vexing issue. Citrin said it would file for the missing years after all, but insisted that Purolite had to pay more taxes for its overseas operations. Was this review helpful? Claim your Free Employer Profile Website: www.citrincooperman.com Headquarters: New York, NY Size: 1001 to 5000 Employees Founded: 1979 Type: Company - Private Industry: Accounting & Tax Revenue: $100 to $500 million (USD) Competitors: Unknown Citrin Cooperman was a relaxed environment. Making the situation even hazier, Brislin has gone mute, declining to talk with either side. An important caveat: The combatants that Purolite paid taxes during the disputed years and the IRS isnt currently auditing the company. Stefan Brodie (shown here), and brother Don Brodie, founded Purolite in 1981. KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Purolite Corp. (Purolite) and its principals, Stefan and Don Brodie, today added a claim for negligent misrepresentation to its extensive complaint against its former accounting firm Citrin Cooperman & Company, LLP (Citrin), its co-founder and CEO, Joel A. Cooperman, and several of its principals. (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. Finally, one place to get all the court documents we need. We entrusted Citrin to properly file our corporate tax returns with the relevant governmental authorities and expected that, as a major accredited accounting firm, Citrin would fulfill those basic duties, said Stefan Brodie, co-founder and CEO of Purolite. When typing in this field, a list of search results will appear and be automatically updated as you type. Thats when Purolite learned that individual returns hadnt been filed for years. Citrin Cooperman falsely represented to me and my company that it had completed and filed all required state, federal, and local tax returns for Purolite and its principals, Stefan Brodie said in a statement. They insist that Citrin file the forms it prepared. Brodie continued, To add insult to injury, Citrin concealed their failure to file our returns, while continuing to work with us and pretending that they had fulfilled all filing obligations. As recently as a week ago, Purolite requested that Citrin Cooperman prepare tax returns on Purolite's behalf taking positions that the firm does not agree with. Purolite makes absorbent resins, tiny beads that purify water and decontaminate solutions for the drug, food, semiconductor and power industries. The leadership of Citrin Cooperman is confident that the facts will speak for themselves in the appropriate forum. Managing Partner, South Florida Offices, Citrin Cooperman Advisors LLC. Citrin Cooperman has repeatedly resisted the Brodies demands to prepare tax returns that we believe would violate our professional standards and government regulations, the accounting firm said. A war of words heats up over how and whether international taxes should be paid. 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. In a tax dispute thats both sobering and surprising, Purolite and Citrin have gone at it in court and in public, digging deep to fling mud at each other. The con is that advancement takes years. Citrin now says the company owes additional taxes. Fill out the form below to get in direct contact with Joshua Rader and start your personalized consultation journey. Managing Partner, South Florida Offices, Citrin Cooperman Advisors LLC Partner, Citrin Cooperman & Company LLP Coral Gables T: (305) 444-0999 Experience CREDENTIALS WORK-LIFE BALANCE Experience Joshua Rader is the managing partner of Citrin Cooperman's South Florida offices. "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. Citrin Cooperman 2022. Our In Focus Resource Center provides insights on real-time, relevant, strategic, and tactical business issues and trends to help keep you in front of what's happening in your industry and the market. 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. You were treated as a professional. Headquarters Regions Greater New York Area, East Coast, Northeastern US. I cover all things Wall Street, personal finance and investing, people and their money. Citrin Cooperman Advisors LLC and its subsidiary entities are not licensed CPA firms. Last year presented steep learning curves, demanded reinvention, and fostered creative opportunities to adjust and adapt. We use necessary cookies to make our site work. The lawsuit claims that King of Prussia, Pa.-based Internet Fitness LLC and Internetfitness.com Inc., have failed to compensate the plaintiff for . In hindsight, Citrins lies and other misconduct should not have been a surprise as it follows a pattern. Citrin Cooperman & Company, LLP is a licensed independent CPA firm that . For decades, family-run Purolite has sold specialty resins, gradually expanding sales to more than 30 countries. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. As a firm that employs 1,200 people around the globe, it files complex tax returns. In the view of Citrin, Purolite is still pushing for improper returns. On taking the job, Carrow told Bedell (apparently falsely) that he would no longer be directly involved in managing the Funds. LEARN ABOUT OUR ACTIVE LAWSUITS AND INVESTIGATIONS, Law Firm Website Design by The Modern Firm. They were given ample opportunity to remedy the situation but instead exacerbated it, leaving us no choice but to go back to court.. Over the past few years, we have seen that strong performers in the manufacturing and distribution industry are the companies that are constantly adapting to change. Explore upcoming events, podcasts and articles by our top contributing partners, gaining insight on the latest market trends & research knowledge. She is currently an accountant for a Boys Scouts organization in Bucks County, according to the groups website. Prior to joining Citrin Cooperman, Josh was the managing partner of Appelrouth, Farah & Co., P.A. Citrin Cooperman remains dedicated to providing their clients with top-level client service backed by a full suite of assurance, tax, and advisory services geared towards helping their clients grow their business and improve their personal finances. 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. For many years, Purolite and Citrin Cooperman accountants worked together in a partnership that began when the older Brodies hired a small accounting firm that was later, in 2007, purchased by Citrin. Company Type For Profit. Citrin admitted to its egregious errors and initially feigned cooperation, but has since obstructed Purolite, exacerbating the already significant damages suffered by Purolite. In recent days, the Biden administration has proposed plans for a global minimum tax to crack down on corporations stashing profits abroad to avoid U.S. taxes. 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. The lawsuit was. All the firms associated with MNA and MGNL are independent entities, owned and managed in each location. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Thanks for contacting us. Both victims have sued Weber and Citrin Cooperman to recover their money. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Last August, Citrin made a presentation to EY, Purolites new accounting firm; and to Purolites law firm, Skadden. Founders Joel Cooperman. The partners of Citrin Cooperman issued a statement in response to a press release sent to numerous outlets by the principal shareholders of a former client, Brotech Corporation doing business as Purolite Corp., describing an ongoing litigation. According to the court filings, Brislin quit Citrin when questions arose shortly after EY picked up the accounting work. He added: They were pressuring our firm to prepare the returns incorrectly, which we refused to do.. Beware! Outside of work, Josh enjoys being an active member of his community. He also devotes a portion of his practice time to commercial litigation supporting ongoing firm engagements in damage analysis and has provided expert testimony. There are also currently over 200 lawsuits listed online involving Purolite, its parent company, and various subsidiaries. Our website requires acceptance of our cookie policy in order to successfully 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 former client, Brotech Corporation doing business as Purolite Corp., describing an ongoing litigation. Phone Number 215-545-4800. Add the rest of your contact information below and select which topics are of interest to you. Citrin Cooperman has repeatedly resisted the Brodies' demands to prepare tax returns to be filed with the United States Internal Revenue Service that we believe would violate our professional standards and government regulations. "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. 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). Citrin Cooperman Advisors LLC and its subsidiary entities are not licensed CPA firms. Citrin Cooperman Got Sent to Their Room By the PCAOB For Broker-Dealer Audit Screw-Ups by Jason Bramwell After doing a quick Google search, it looks like the PCAOB hasn't punished a public accounting firm for failures in its audits of brokers and dealers since 2016. ORDERED that Citrin Cooperman & Company, LLP's motion to dismiss the claims of Andrew Targum, Erika Targum, Andrew S. Targum, P.C., Andrew Scott Targum, P.C., and Targum, Britton & Tolud, LLP is granted as to the claims for ratification, and to the extent that these plaintiffs seek to recover for actions dating before September 12, 2009 and to . 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. Track your investments 24 hours a day, around the clock from around the world. from 8 AM - 9 PM ET. We will only set these optional cookies if you enable them, by allowing specific optional cookies in "cookie settings.". Files Malpractice Complaints with IRS and Other Accounting Regulatory Bodies for Citrins Failure to File Purolite Tax Returns for Five Years and Additional Acts of Gross Professional Misconduct. The lawsuit chronicles Citrin's blatant incompetence, intentional concealment and extreme bad faith, which resulted in Purolite's unwitting failure to meet its tax filing obligations. Focus on the Future The release of the Year in Review has become a well-honored tradition at Citrin Cooperman. He knew he had my confidence, but he is a pathological liar, the neighbor, Jordan Bardach, told Manhattan Supreme Court Justice Gregory Carro at an emotional sentencing hearing. We also use optional cookies to understand your engagement with the website, interact with social network accounts, and provide you with the best experience. The specific charge: The companys accountants had failed to properly file Purolite tax returns and in some years, failed to file returns at all from 2010 to 2017. (212) 687-8080, Internet Explorer presents a security risk. It will take me and my family and my business years to recover from the damage he has caused.. View Full Firm Disclosure. 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. 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