Tuesday, October 04, 2011

Deloitte Touche sued for $7.6bn in mortgage fraud case

Giant accounting and consulting firm Deloitte Touche Tohmatsu has been accused of failing to detect fraud during audits of a mortgage firm which failed during the US housing crash.

A trust overseeing now-defunct Taylor, Bean & Whitaker (TBW), and one of the company's subsidiaries, have filed complaints in a Florida court.

They are claiming a combined $7.6bn (£4.9bn) in losses.

See full Article.