Deloitte & Touche has entered a settlement with the US and agreed to pay $149.5 million to resolve claims related to its audit of Taylor Bean & Whitaker Mortgage, a mortgage lender that collapsed.
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claim against Deloitte relating to the firm’s audit work for Taylor Bean for the fiscal years 2002-2009. taylor bean, once the largest U.S. mortgage lender not owned by a deposit bank, sought bankruptcy protection in 2009 after federal authorities uncovered a fraud in which executives created fake, worthless mortgage assets in order to
On February 28, the Department of Justice announced that the Big Four accounting firm, Deloitte & Touche, had agreed to pay $149.5 million to settle False Claims Act allegations that the firm provided shoddy independent auditing services for a mortgage firm that did business with the Federal Housing Administration.
The US Department of Justice has agreed to a settlement of $149.5m (108.4m) with Deloitte over its audits of the now defunct mortgage lending firm Taylor, Bean & Whitaker (TBW).. Deloitte served as TBW’s external auditor between 2002-2008 until the mortgage broker’s collapse in 2009.
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Deloitte & Touche will pay $149.5 million to the federal government as part of a settlement over its role in the spectacular collapse of Taylor, Bean & Whitaker, which was one of the country’s.
The U.S. Department. recoveries, Deloitte & Touche paid $149.5 million after the government accused it of falling short on its responsibilities as an independent auditor for a mortgage lender.
Deloitte & Touche has been fined $149.5 million to settle allegations that its auditors failed to detect a massive accounting fraud at Taylor, Bean & Whitaker that led to the collapse of the mortgage originator. In announcing the settlement on Wednesday, the U.S. Department of Justice said Deloitte.
The justice department announced today that Deloitte & Touche LLP has agreed to pay the United States $149.5 million to resolve potential False Claims Act liability arising from Deloitte’s role as the independent outside auditor of Taylor, Bean & Whitaker Mortgage Corp. (TBW), a failed originator of mortgage loans insured by the Federal Housing Administration (FHA) in the Department of.
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