It’s a Wednesday night in London, and Vincent Tchenguiz, the biggest owner of residential real estate units in the U.K., is getting wound up about the criminal case that paralyzed his business and threatened to land him in prison.
Chinese affiliates of the four largest accounting firms were barred for six months from leading audits of U.S.-listed companies after failing to comply with Securities and Exchange Commission orders for documents at the heart of a series of accounting fraud probes.
The U.K. accounting regulator is investigating Grant Thornton LLP’s audit of Manchester Building Society over the way it recorded interest-rate swaps, which led to an adjustment in its financial statement.
Conor Hails, head of the University of Pennsylvania’s Sigma Chi chapter, was in a Philadelphia hotel ballroom last month for a Barclays Plc recruiting reception. A friend pointed out a banker from their fraternity. Hails, 20, approached with a secret handshake.
A trustee representing Refco Inc.’s foreign-exchange customers agreed to dismiss their last claim against Grant Thornton LLP, the defunct firm’s former auditor that clients accused of helping Refco defraud them.