Deloitte to pay $149.5 million to U.S. over failed 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.

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The Justice Department announced yesterday that Deloitte & Touche LLP has agreed to pay the united states 9.5 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 Housing and Urban Development (HUD).

NEW YORK/WASHINGTON (Reuters) – Deloitte & Touche [DLTE.UL] has agreed to pay the U.S. government 9.5 million to settle claims it failed to uncover fraud at the failed Taylor, Bean & Whitaker.

Bank of America Corporation (BoAC) will pay. $490 million) in a "tax relief fund." That money is expected to "help defray some of the tax liability" of those same consumers harmed by BoAC if.

WASHINGTON – (RealEstateRama) – 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.

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.

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Deloitte & Touche has agreed to pay $149.5 million to settle claims with the U.S. Department of Justice over its audit work at Taylor, Bean & Whitaker, a mortgage lender that went up in smoke in the financial crisis.

2018-03-01  · Kushner bank loans questioned; B of A fires two in harassment probe.. The U.S. Senate is expected to approve “the most significant rollback of postcrisis financial rules since Republicans took. Deloitte & Touche agreed to pay $149.5 million to settle Justice Department allegations that it failed to detect a massive fraud.