Prof. Painter Quoted in Star Tribune on Financial Fraud

Professor Richard Painter was quoted in a Star Tribune article on a lawsuit brought by the Petters trustee against an accounting firm that worked for the Petters companies. Painter noted that accounting firms in some instances can be sued by bankruptcy trustees for failed entities. With respect to Ponzi schemes and other financial frauds, "[t]he whole point of an auditor is to catch this stuff," Painter said.