Reported 3 days ago
Investors in Brooge Energy have filed a fraud complaint against Ernst & Young, claiming the auditing firm failed to reveal fabricated revenues in the company's financial reports from 2018 to 2020. The plaintiffs, who were part of a special purpose acquisition company that took Brooge public, allege that the firm misrepresented its revenues by up to 80%. Brooge previously settled with the SEC over fraud charges in 2023 for a $5 million penalty.
Source: YAHOO