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Bankrupt Lender's Audit Lapses 'Mind Boggling'
Auditors at now-bankrupt New Century Financial—once one of the nation’s largest subprime lenders and one of the earliest to fail—were accused of “mind boggling” lapses in a Justice Department report on...
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Madoff Scam Proves Wall St. Incompetence
If the Bernard Madoff scandal teaches us anything, it’s that Wall Street’s masters “aren’t just too clever by half,” writes Steven Pearlstein in the Washington Post , “they’re not clever at all.” They...
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Accounting Firm Faces $2B in Lawsuits in Madoff Scam
The Canadian branch of the world’s largest accounting firm is facing seven lawsuits for up to $2 billion on behalf of investors who fell victim to Bernard Madoff, the Telegraph reports....
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Fraud Charges Loom for Ernst & Young
Ernst & Young is poised to become the first major accounting firm charged for having a hand in the financial crisis. New York prosecutors are planning to file civil fraud charges against the firm...
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Ernst & Young Hit With Civil Fraud Suit
Andrew Cuomo filed a civil fraud lawsuit against Ernst & Young today, following reports that the company allegedly helped Lehman Brothers mislead investors . According to the complaint, the...
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