This case was against PWC by the Taylor Bean and Whitaker Mortgage Corp., of a bankruptcy trustee for 5.5 billion dollars. The case is unusual because the plaintiff is the trustee of the individual that committed the fraud and is suing not its own audit firm but the audit firm of the institution it defrauded. The trial has the possible to influence public perception of auditors, as well as strategies to use the plaintiff lawyers that they are against within this cases. The bankruptcy trustee for Taylor Bean & Whitaker Mortgage Corp., is the 12th largest U.S. mortgage lender, which sued PwC for $5.5 billion in damages in 2012 after the bank went bankrupt in August 2009. The Federal regulators Deloitte uncovered a $3 billion fraud involving fake mortgage assets. The bankruptcy trustee for Taylor claim that PwC was negligent in not pointing out the fraud from its place as auditor of Colonial Bank, which bought the apparently fake mortgages that Taylor Bean had originated and that made Taylor Bean’s losses worse. The lead attorney for PWC from the firm King and Spalding issued a statement “PricewaterhouseCoopers said they did not audit or engaged in any other services
This case was against PWC by the Taylor Bean and Whitaker Mortgage Corp., of a bankruptcy trustee for 5.5 billion dollars. The case is unusual because the plaintiff is the trustee of the individual that committed the fraud and is suing not its own audit firm but the audit firm of the institution it defrauded. The trial has the possible to influence public perception of auditors, as well as strategies to use the plaintiff lawyers that they are against within this cases. The bankruptcy trustee for Taylor Bean & Whitaker Mortgage Corp., is the 12th largest U.S. mortgage lender, which sued PwC for $5.5 billion in damages in 2012 after the bank went bankrupt in August 2009. The Federal regulators Deloitte uncovered a $3 billion fraud involving fake mortgage assets. The bankruptcy trustee for Taylor claim that PwC was negligent in not pointing out the fraud from its place as auditor of Colonial Bank, which bought the apparently fake mortgages that Taylor Bean had originated and that made Taylor Bean’s losses worse. The lead attorney for PWC from the firm King and Spalding issued a statement “PricewaterhouseCoopers said they did not audit or engaged in any other services