Printer Friendly
Email to a Friend
Auditors Face Charges Related to TierOne Bank Failure
LINCOLN, Neb. (AP) - Two KPMG auditors are facing charges from the Securities and Exchange Commission for failing to find problems at TierOne Bank before it failed in 2010 after concealing real estate losses.
The SEC filed administrative charges against KPMG's John J. Aesoph of Omaha and Darren Bennett of Elkhorn.
KPMG spokesman Tim Connolly says the two look forward to defending their work and presenting facts about the circumstances they faced at TierOne.
The SEC says the two auditors didn't do enough to challenge TierOne's estimates of the value of real estate that the bank had loans on or had repossessed. The Lincoln-based bank understated its losses by millions of dollars in 2008 and 2009.
Federal regulators closed TierOne in June 2010 and sold its assets to Great Western Bank.
© Associated Press
MOST VIEWED STORIES
Two arrested after Doniphan Co traffic stop
Seven arrested in Atchison drug investigation
Fund set up for Hiawatha couple who lost home in fire
Atchison man sentenced on child sex charge
Sabetha Community Hospital appoints new CEO
Two arrested after Jackson Co pursuit and manhunt
Atchison woman sentenced on charges in fatal crash
Heavy rain contributed to wreck injuring one person
Man arrested in Tecumseh, Neb following standoff
Shots fired, vehicle attack, lead to Mayetta arrest
Longtime Nemaha Co Appraiser retires
Jackson Co traffic stop results in two arrests
One killed, 3 injured in NW MO crash
KDOT work means Jackson Co delay
Atchison Co: Motorists reminded to use only hwy detours
Longtime Sabetha Fire Chief recognized for service
Hiawatha City Commission sets fireworks dates, times
Brown Co Appraiser re-appointed
Child abuse arrest made in Pawnee County
Brownville under consideration for small modular nuclear reactor
LATEST STORIES
Shots fired, vehicle attack, lead to Mayetta arrest
Nominees sought to fill local judicial seat
Protect yourself from West Nile Virus
Unemployment figures mixed in SE Nebraska in May
Purchase of 2 patrol units for Richardson Co Sheriff's Office approved
One killed, 3 injured in NW MO crash
New firm to do facilities assessment for USD 415
St. Joseph Mo man injured after boat explodes
Hiawatha, Ks 66434