The logo of PricewaterhouseCoopers is seen on the local offices building of the company in Luxembourg, April 26, 2016. REUTERS/Vincent Kessler (Reuters) – PricewaterhouseCoopers has settled a lawsuit accusing the auditing firm of failing to detect the fraud that brought down Taylor, Bean & Whitaker Mortgage Corp in 2009, a lawyer for the mortgage lender’s bankruptcy trustee said on Friday. The …
Accounting giant PricewaterhouseCoopers squared off Tuesday in court with lawyers for a defunct mortgage company’s creditors and investors over a $5.5 billion lawsuit, which claimed the Big Four firm failed through years of audits to uncover massive fraud at a failed Alabama bank. The estimated $21 billion fraud at Colonial Bank of Montgomery, Alabama, was orchestrated by top executives at the …
The Los Angeles Department of Water and Power is going after one of its contractors in court, claiming the utility was bilked for money that helped pay for escorts and parties in Las Vegas. According to the lawsuit, PricewaterhouseCoopers billed the DWP for services that were never performed, and some of the money was spent on prostitutes, luxury hotels and liquor in …
The Los Angeles City Attorney alleged Thursday that top managers at a consulting firm hired by the Department of Water and Power authorized inflated time records to earn payments for work the firm never performed, then spent the money on prostitutes, hotels and bottle service liquor for two Las Vegas bachelor parties. A motion filed in Los Angeles Superior Court seeks to expand the civil …