Deloitte & Touche Sued in New York Over WG Trading Fraud
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Deloitte & Touche LLP, one of the so-called Big Four accounting firms, was sued by a pension fund over WG Trading Co., the company allegedly used in a Ponzi scheme by former managers Paul Greenwood and Steven Walsh.
The Iowa Public Employees’ Retirement System suffered millions of dollars in losses as a result of the scheme, according to the lawsuit, which was filed in federal court in New York yesterday.