KPMG faces $1.4-billion lawsuit for alleged function in Bridging Finance’s collapse

KPMG commenced auditing the monetary statements of Bridging Finance’s major fund, then identified as the Sprott Bridging Money Fund, in 2016, then took over the auditing role of all of Bridging’s cash by 2019.BENOIT TESSIER/Reuters

Bridging Finance Inc.’s receiver is suing KPMG LLP for $1.4-billion, alleging the accounting business unsuccessful to sufficiently audit the non-public personal debt supervisor ahead of its collapse in 2021.

In a lawsuit submitted with the Ontario Exceptional Court docket, PricewaterhouseCoopers Inc., the receiver, alleges that “throughout KPMG’s tenure, the Bridging funds materially misrepresented the worth of their assets and fiscal functionality. KPMG negligently unsuccessful

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How Putin’s alleged ‘business associate’ made $400m from a major Russian gas deal | Gas

In the icy waters of a Siberian harbour, the Christophe de Margerie, a Russian ship with an unusual French name, was ready for loading. The world’s first ice-breaking gas tanker had been designed for a very specific purpose: opening up Russia’s Arctic shipping routes towards Europe and Asia during the winter months.

It was December 2017, and the temperatures had plunged to -27C, but the politicians and oil executives gathered in Sabetta, on the Yamal peninsula, were jubilant. Vladimir Putin had flown in for the event. At the president’s signal, gas began to pump into the tanker.

“This is

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