PwC Auditor Defends Methods In $5.5B Taylor Bean Trial
Law360, Miami (August 15, 2016, 10:04 PM EDT) -- A PricewaterhouseCoopers auditor defended his associates' methods Monday before a Miami jury, testifying that they followed standard procedures when auditing Colonial Bank and were deceived by executives at now-bankrupt Taylor Bean & Whitaker Mortgage Corp. who were running a massive $5.5 billion fraud.
Gary Westbrook, who was the lead Pricewaterhouse auditor on the Colonial account from 2004 to 2008, said his team did what they could but were deceived by executives at Taylor Bean when trying to confirm figures from Colonial Bank, which was used by those executives to carry out the multibillion-dollar fraud that eventually led to the bank's collapse....
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