Alleged accounting irregularities at Colonial

Yikes. Sound familiar to anyone? From the AP: “The Company has been informed that the alleged accounting irregularities relate to more than one year’s audited financial statements and regulatory financial reporting, and the Company’s Board of Directors and Audit Committee are making every effort to determine the impact of these alleged accounting irregularities on the Company’s financial statements and regulatory financial reporting,” Colonial said. (read the entire AP report below.)

6 Comments

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  1. 1
    E.G. White

    I think Lowder will discover that the IRS, FBI and Federal Marshalls do a little better job of investigating than does the NCAA. Penalties are a little stiffer too! Oops! RTR!

  2. 3
    Taxman

    Before you get to happy about the fall of Colonial remember alot of descent people will lose their jobs and have already taken a hit to their retirement accounts.

  3. 5
    E.G. White

    I don’t think anybody’s happy about the bank failing dude. But we’re ecstatic about Lowder losing his ass!

  4. 6
    CrimsonBrother

    Taxman,

    Bobby Lowder should have remembered those Decent people at Colonial before GREED my friend.

    ROLL TIDE BABY !!!!!!!!!!!!!!!1

    21 SOUTHEASTERN CONFERENCE CHAMPIONSHIPS

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