US Tax Fraud by HP

Major news is out today that H.P., had taken $8.8 billion accounting charge after discovering “serious accounting improprieties” and “outright misrepresentation” at Autonomy that it bought for $10 billion in 2011.

The accounting charge essentially wiped out its profits (really? no 38% corp. tax to pay). Previously H.P. had taken an $11 billion charge related to its acquisition of Electronic Data System in 2008.