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Jury Orders BDO Seidman To Cough Up $521M

Law360 (August 15, 2007, 12:00 AM EDT) -- Accounting firm BDO Seidman LLP must pay a total of $521 million in damages to a Portuguese bank after it was found guilty of failing to unearth a fraud that led to the collapse of a Florida financial services company.

The Chicago-based firm, which plans to appeal the decision, was hit with the damages bill Tuesday, after a Florida jury found it owed punitive, as well as compensatory, damages to Banco Espirito Santo, which had invested in the bankrupt E.S. Bankest LLC.

The jury handed down...
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