Wednesday, April 1, 2015

Rahm yells at Chuy: 'Are you calling Deloitte & Touche liars?'

At one point in last night's debate, the mayor tried to intimidate his opponent, Chuy Garcia who had charged that Rahm's regime wan't being transparent or forthcoming with financial data ("cooking the books").

Sneering as only the Little Emperor can, he interrupted and mocked Chuy: "Are you calling Deloitte & Touche liars?" The City Club audience gasped. Chuy wasn't, but he could have -- and worse.
Washington, D.C., April 26, 2005 - The Securities and Exchange Commission today announced that Deloitte & Touche LLP has agreed to pay $50 million to settle charges stemming from its audit of Adelphia Communications Corporation's fiscal year 2000 financial statements. The Commission issued an Order that finds that Deloitte engaged in improper professional conduct and caused Adelphia's violations of the record keeping provisions of the securities laws because it failed to detect a massive fraud perpetrated by Adelphia. -- SEC
Then again:
 Washington, D.C., Oct 22, 2013  - Deloitte & Touche DLTE.UL will pay a $2 million penalty to settle civil charges that it violated federal audit rules, in one of the largest civil penalties ever imposed by the U.S. audit watchdog. The Public Company Accounting Oversight Board, which is tasked with policing auditors, said on Tuesday that it was censuring Deloitte for allowing its former partner to continue participating in the firm's public company audit practice, even though he had been suspended over other rule violations. -- Reuters
And then there's money laundering:
 The US arm of Deloitte has been implicated in a scandal involving Standard Chartered Bank (SCB), which is facing allegations that it schemed with Iran to launder billions of dollars. The bank is accused of devising a method of masking Iranian client transactions to bypass US money laundering defences and watered down an independent report into the bank's practices. -- Accounting Web
 Livent’s former auditor, Deloitte, has been ordered to pay damages to the theatre company’s creditors after an Ontario judge ruled the accounting firm failed to detect fraud at the company, even though there were plenty of warning signs that something fishy was going on in the 1990s. -- Financial Post
I'm running out of space. So I'll abbreviate:

Oh, did I mention that Deborah DeHaas, vice chairman and Midwest regional managing partner, of Deloitte & Touche LLP, sits on Rahm's supposedly "non-profit" economic development corporation while auditing Rahm's books?

1 comment:

  1. Lying and cheating with a high paid firm jamming the books like they have done many time before and should be serving time in a Federal Pen


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