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

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Wooden gavel and handcuffs on top of U.S. currency. recoveries for violations related to residential-mortgage backed securities, The accounting company agreed to pay an eye-popping $149.5M for its role in the. and failed to detect fraudulent conduct that enabled TBW's fraud until TBW failed.

The justice department announced 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.

Register here to receive weekly email notices about recently-filed securities class action complaints and news in the area of securities class action litigation.. Deloitte to Pay $149.5 Million to U.S. over Failed Mortgage Lender. U.S. Supreme Court Bankruptcy Ruling Reignites $8 Billon.

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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.

NEW YORK/WASHINGTON, Feb 28 (Reuters) – Deloitte & Touche has agreed to pay the U.S. government $149.5 million to settle claims it failed to uncover fraud at the failed Taylor, Bean & Whitaker.

Register here to receive weekly email notices about recently-filed securities class action complaints and news in the area of securities class action litigation.. RBS Reaches $500 Million Settlement with New York over Mortgage Securities. Deloitte to Pay $149.5 Million to U.S. over Failed.

News and data on agency MBS from Inside mortgage finance newsletters.. big Four accounting firm Deloitte has paid $149.5 million to the federal government. home lenders association, the Community Mortgage Lenders of America, The IG noted that Fannie failed to demonstrate that the move would be in the best .

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. Deloitte was TBW’s independent auditor from 2002 through 2008, until the Federal.