2014-04-22 — cutimes.com
``Moore's profile also said she was executive vice president and chief operations officer at Colonial Bank and Colonial BancGroup from 2000 to 2003, and served from 1987 to 1996 as an audit manager at Coopers & Lybrand, which merged with PriceWaterhouse in 1998.
Colonial's colossal failure prompted the first lawsuit filed by the FDIC against a failed bank's accountants, according to court records and media reports.
"Colonial's closure was triggered by the discovery that its largest mortgage banking customer, Taylor Bean & Whitaker Mortgage Corp., had committed a massive, multi-year fraud against Colonial, resulting in financial statements that grossly misstated Colonial's true financial condition," according to a lawsuit filed Oct. 31, 2012 by FDIC against PwC, which served as the bank's external auditor and Crowe Horwath, which provided internal audit services.''
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