Deloitte shifts heat onto PwC over link to funds defrauded by Madoff

Deloitte is being sued for professional negligence by the liquidator of Mount Capital Fund and Mount Capital Asset Subsidiary over alleged losses of $200 million

Accountancy giant Deloitte is seeking details of a secret settlement between rival firm PwC and two collapsed investment funds stung by convicted US fraudster Bernie Madoff.

Deloitte is being sued for professional negligence by the liquidator of Mount Capital Fund and Mount Capital Asset Subsidiary over alleged losses of $200 million.

The accountancy firm audited the two companies in 2006 and 2007 prior to their collapse. Liquidators were appointed to Mount Capital by ...