Freddie Mac boosts damages sought in lawsuit against Deloitte

Reuters - March 10, 2015 - March 11, 2015

Reuters, By Dena Aubin

Mortgage finance company Freddie Mac has added punitive damages to its lawsuit accusing Deloitte & Touche of missing a massive fraud at defunct mortgage lender Taylor Bean & Whitaker, raising the stakes in what was originally a $1.3 billion complaint.

In an amended complaint unsealed on Monday, lawyers for the government-controlled Freddie Mac said Deloitte was guilty of “gross negligence” for its silence about a massive fraud orchestrated by Taylor Bean’s senior officers over seven years.

Read the full article: Freddie Mac boosts damages sought in lawsuit against Deloitte