July 2, 2018 / 6:47 PM / 5 months ago

U.S. judge rules PwC owes FDIC $625.3 mln damages over failed mortgage lender

July 2 (Reuters) - A federal judge on Monday said PricewaterhouseCoopers LLP should pay the Federal Deposit Insurance Corp $625.3 million in damages for failing to uncover a fraud scheme between its client Colonial Bank and the mortgage lender Taylor, Bean & Whitaker.

U.S. District Judge Barbara Rothstein ruled after a non-jury trial on damages held in March. She had ruled in December that PwC was liable, without setting damages.

Colonial and Taylor Bean both failed in August 2009. (Reporting by Jonathan Stempel in New York)

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