Ernst & Young

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Ernst & Young Hit With Civil Fraud Suit

Andrew Cuomo cites 'massive accounting fraud' in Lehman Bros. dealings

(Newser) - Andrew Cuomo filed a civil fraud lawsuit against Ernst & Young today, following reports that the company allegedly helped Lehman Brothers mislead investors . According to the complaint, the accounting firm approved Lehman’s use of “Repo 105” transactions, a type of debt that was labeled as sales to reduce... More »

Fraud Charges Loom for Ernst & Young

Accounting firm helped Lehman Brothers cook the books, prosecutors allege

(Newser) - Ernst & Young is poised to become the first major accounting firm charged for having a hand in the financial crisis. New York prosecutors are planning to file civil fraud charges against the firm for the role it allegedly played in the collapse of Lehman Brothers, one of its biggest... More »

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