BDO Seidman must pay Portugal's Banco Espirito Santo a total of $522 million for negligent audits at a company blamed for the largest bank fraud in Miami history, a Florida jury has decided. The Miami-Dade Circuit Court jury awarded nearly $352 million in punitive damages Tuesday after accepting the bank's request for $170 million in compensatory damages late Monday. BDO Seidman chief executive Jack Weisbaum predicted the verdict "will not survive the appeal process."
August 15, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
BDO Seidman must pay Portugal’s Banco Espirito Santo a total of $522 million for negligent audits at a company blamed for the largest bank fraud in Miami history, a state court jury has decided.
The Miami-Dade Circuit Court jury awarded nearly $352 million in punitive damages Tuesday after accepting the bank’s request for $170 million in compensatory damages late Monday.
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