Deloitte sued for $7.6 billion

Accounting firm facing two lawsuits alleging it failed to detect mortgage fraud in high-profile Taylor Bean case

If the bean counters can’t count, or choose not to report what they see, who can you trust? Accounting firm Deloitte Touche Tohmatsu Ltd. is now the defendant in a pair of lawsuits alleging it failed to detect (or report) massive fraud spanning nearly a decade at a now-defunct Florida mortgage provider that led to one of the largest prosecutions to come out of the financial crisis.

Mortgage company Taylor Bean & Whitaker and Ocala Funding LLC, a separate company that purchased mortgages from Taylor Bean totaling in the hundreds of millions of dollars, both filed suits against Deloitte in Miami-Dade Circuit Court. The companies filed the suits on behalf of the bankruptcy trustee attempting to appease Taylor Bean’s creditors.

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