Accountancy firm sued over audits for investment firms who fell victim to Madoff Ponzi scheme

The liquidators of two foreign investment firms which were found to be insolvent after jailed fraudster Bernie Madoff’s Ponzi scheme was discovered are suing accountants in Ireland who audited their books for two years.

It is claimed, in High Court proceedings, that Deloitte and Touche failed to conduct the audits in accordance with proper standards