Chicago (Aug. 5, 2004) — Top-tier firm Grant Thornton will pay $1.5 million to settle charges of securities law violations stemming from the Chicago firm’s 1998 audit of mortgage banker MCA Corp.

According to the Wall Street Journal, the seven-figure settlement stems from Grant’s 1998 audit of now-bankrupt mortgage-banking concern MCA Corp., which was charged with civil fraud by the SEC earlier this year.

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