Banco Espirito Santo International Ltd (BES) sued accounting firm BDO Seidman on Tuesday, alleging it "rubber-stamped ... obviously false financial statements" of a company accused of defrauding the Portuguese bank's local branch of US$170 million.
Espirito Santo and several of its affiliates filed the professional negligence lawsuit in Florida Circuit Court in Miami, seeking at least US$170 million in damages. It named Chicago-based BDO Seidman and its Belgium-based global affiliate, BDO International, as defendants.
BDO Seidman had not seen the lawsuit and declined comment, said Jerry Walsh, an outside spokesman for the company.
BDO Seidman was the auditor of E.S. Bankest, a joint venture between Miami's ESB of Florida and brothers Eduardo and Hector Orlansky, the lawsuit said.
