PwC must pay FDIC $625M for failing to uncover fraud scheme

A federal judge on Monday said PricewaterhouseCoopers must pay the Federal Deposit Insurance Corp. $625.3 million in damages for failing to uncover a fraud scheme between its client Colonial Bank and the mortgage lender Taylor, Bean & Whitaker. US District Judge Barbara Rothstein ruled after a non-jury trial on damages held in March. She had...