Accounting fraud

PricewaterhouseCoopers LLP failed to spot for seven years a multibillion-dollar fraud that led to the demise of Taylor Bean & Whitaker Mortgage Corp., a lawyer for the lender’s bankruptcy trustee told a Miami jury on Tuesday.

ComScore Inc., the Internet and entertainment research firm, replaced its chief executive officer and chief financial officer as the board’s accounting probe dragged on into its sixth month.

The Securities and Exchange Commission has suspended EFP Rotenberg LLP and an accountant at the firm for failing to detect fraud in the audit of a public company client, ContinuityX Solutions.

Omar Amanat is not shy about his accomplishments. On his website, along with a smiling photograph wrapped in his trademark scarf, he details his exploits and accolades, touting being named one of the world’s most influential Muslims and “the most powerful person in Hollywood you’ve never heard of.”

Sean McKessy, chief of the Securities and Exchange Commission’s whistleblower office, plans to set down this month.

Some of our favorite examples of tax and accounting professionals breaking bad

A former controller who embezzled $8.7 million from the Pepsi bottling company where he worked and then spent six years as a fugitive on the Appalachian Trail has been sentenced to eight years in prison.

Roomy Khan, a technology executive and financial analyst who helped convict Galleon Group founder Raj Rajaratnam on fraud charges, told a group of fraud examiners last week about how she became enmeshed in the insider trading scheme.

Judge Jed Rakoff told attendees at the Association of Certified Fraud Examiners' Annual Global Fraud Conference in Las Vegas that prosecutors are falling short on prosecuting fraud.

The Securities and Exchange Commission has barred a former corporate vice president and a former controller for false accounting at an electronics company.