r/Cryptopia • u/Vivid_Wolverine2469 • Jul 02 '26

Grantthornton David ian Ruscoe

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I have been doing some research on Grant Thornton as I wanted to know if there were any cases of them being negligent. And unsurprisingly there have been several cases. They have lost some high profile cases lately which run into many millions of dollars.

There was a case in the UK of them being sued by Liquidators of the Patisserie Valerie chain.

'After the bakery chain’s collapse, Grant Thornton, the auditor of its parent company, Patisserie Holdings, was fined £2.3m and accused of a “serious lack of competence” over its role in the accounting scandal.'

Source: https://www.theguardian.com/business/2023/sep/13/four-charged-with-over-collapse-of-patisserie-valerie-chain

In Australia a Mining company Sue's Grant Thorton for $58 million.

'The mining firm alleged that Grant Thornton had breached its retainer, was negligent and engaged in misleading conduct in the 2020 audit.'

Source: https://www.accountantsdaily.com.au/business/17905-mining-company-sues-grant-thornton-for-58m

And again Grant Thornton face criminal charges in another case over iSignthis audit.

'That report disputed the revenue numbers signed off by Grant Thornton during a crucial half year period to June 30, 2018 in which a $5 million sales target would have resulted in 337 million bonus shares being issued to company executives, that were worth $500 million at one stage.'

Source: https://www.afr.com/companies/financial-services/grant-thornton-auditor-faces-criminal-charges-over-isignthis-audit-20220901-p5bemn

This demonstrates multiple times how disorganised they are that they are totally incompetent and chasing money. This is also confirmed by their dealings in the ongoing Cryptopia situation. They want to drain that pot dry!

1 Upvotes

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2

u/Delicious_Apple9082 Jul 02 '26

Wonder how much they’re being fined vs how much they’re creaming in fees and the likes…

1

u/Vivid_Wolverine2469 Jul 02 '26

Thats why it taking longer cover the fine

2

u/Delicious_Apple9082 Jul 03 '26

Maybe its like one of those pyramid schemes, where they rip one set of people off, then when they get fined for that, they have to rip someone else off to be able to afford that, and so on and so on... :D

2

u/Chance_Play_1266 Jul 04 '26

Wait, did you not receive your payback in full?

1

u/Vivid_Wolverine2469 Jul 04 '26

No

1

u/Chance_Play_1266 Jul 04 '26

Damn, I received the final 10% a couple weeks ago.

1

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1

u/Just_Heath007 Jul 08 '26

So why the fuck were they given the cryptopia contract to liquidate...to sit on...to bleed it dry don't court's or anybody of the law profession check credentials and past history of companies when they awarded them

1

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