Sunday, Aug 23, 2009
Corrupt ratings agencies?
Telegraph: Madoff victims to sue accountants PwC over feeder fund audits
The world's largest accounting firm, PricewaterhouseCoopers, is being sued for billions of pounds over its role as auditor to one of the feeder funds that channelled fortunes to Bernard Madoff, thus helping prop up his $65bn (£45bn) fraudulent "Ponzi scheme".
Posted by flintster1994 @ 10:43 AM (263 views) Add Comment
1 Comment
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1. techieman said...
So? Accountants always get sued when this stuff happens. Look at Anderson and Enron. the funny thing is that other big 4 accounting firms step in, preach compliance and then sue the prior accountants. Then in the next scandal the accounting firms change places! Examples? BCCI, Enron, Worldcom, S&L crisis etc etc.