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Office Hours posted yesterday reports that a trustee was suing accounting firm Moss Adams for about $150 million related to a fraud and bankruptcy of Seattle-based Meridian Mortage.
The Seattle Times reports that Seattle accounting firm, Moss Adams, has been hit with a lawsuit related to the “biggest Ponzi scheme in Pacific Northwest history,” the collapse of Meridian Mortgage funds.
Meridian Mortgage filed bankruptcy in 2010.
The story in Wednesday's editions say the suit was filed on behalf of bankrupty trustee Mark Calvert and alleges the accounting firm should pay $150 million for its failure to detect an alleged fraud scheme.
The suit said Moss Adams, the 11th-biggest CPA firm in the country, issued clean audits for six of the Meridian funds between 2001 and 2007. The company has a large office in downtown Spokane.