A federal judge has ruled that PricewaterhouseCoopers was negligent in the events that led to the 2009 collapse of Colonial Bank. Read more
PwC was facing a potential liability of $5.5 billion when it settled a case last year for allegedly defective audits. Read more
Officers and directors of failed Colonial BancGroup have agreed to pay investors $10.5 million to settle a class-action lawsuit. The settlement must be approved by the U.S. Bankruptcy Court... Read more
An executive convicted of orchestrating a $3 billion fraud as chairman of one of America’s largest private mortgage companies has been sentenced to 30 years in prison. Federal prosecut... Read more
There were some rather significant developments recently in the criminal courts relating to Colonial Bank. First, on February 24th, the former treasurer of what had been one of the country... Read more
A new report on the death of Montgomery-based Colonial Bank indicates that the company bet far too heavily on risky real-estate loans. The bank’s cause of death was real-estate gluttony, a l... Read more
A federal criminal investigation is continuing into the activities of Colonial BancGroup, according to a report to Congress that was released on April 20th. The Special Inspector General for... Read more
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