Financial Accounting Blog

Tuesday, September 23, 2003

SunTrust gets burned for $60 million - Atlanta Business Chronicle. This is a good article that describes a situation similar to Maxidrive Corp. and Exeter. SunTrust is in a lawsuit with DVI Inc. over accounting errors.
On June 9, just days after SunTrust bought the $60 million worth of notes, DVI disclosed publicly that Deloitte & Touche had resigned as DVI's auditor, effective June 2, over a dispute involving a review of the company's financial statements.