Trial Begins For Auditor In Bankest Fraud Case

Law360, New York (January 25, 2007, 12:00 AM EST) -- An auditing firm accused of rubberstamping fraudulent claims that led to the demise of E.S. Bankest will finally have its day in court.

A trial began Thursday in Miami-Dade Circuit Court for BDO Seidman, which is accused of overlooking $170 million worth of fraud that led to the jailing of E.S. Bankest’s directors. The trial is expected to last more than a month.

Bankest was a factoring firm which bought other firms’ outstanding bills at a discount and later profited from collecting the full bills. E.S....
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