There was no fraud at OPL, the primary reason that UPS continued to fight the IRS opinion until they won. As a corporation that pays over a billion dollars (US) in taxes each year, there is no argument that UPS is different from so many of those companies that pay nothing, or little, on millions or even billions in revenue. I am sad to see OPL go for different reasons then I have seen mentioned here. They had become a fairly large player in the reinsurance field, the same business that Warren Buffet has such faith in. It was hit hard by huge losses after a number of natural disasters, and even impacted by terrorist acts, but that means they simply raise the premiums and many people, including Buffet, see boom years ahead for those that weather the storm. I wish they would have stuck it out. It could have been sucessful independent of UPS's excess value insurance, no doubt, but perhaps the board felt they were venturing too far from their core businesses. But anyone questioning the integrity of the board members is way off base. UPS has almost a century of making decisions based on "whats right", and that includes their financial transactions. Furthermore, I have never seen a company so intent on honesty- even in it's self audits. They may make it hard on the employees at times since it is so difficult to do well at times on internal audits, but the far bigger danger is to have a company that is lying to itself, essentially, by padding it's audit results. Those that do that are destined to bring about huge problems eventually, in a hundred ways, and may even destroy the entire corporation, as we have seen in the news repeatedly over the last year or two. Those employed in UPS mangement know that the surest road to truly being fired is to lie about "numbers," however inconsequential they are-or seem to be- at the time. That is as it should be, in my opinion.}