Ex-Deloitte executive suspended after settling claims over markers

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A former Deloitte LLP executive will be suspended from practising as an accountant for two years after settling U.S. regulatory claims that he took thousands of dollars in markers while serving as an adviser on the firm’s audit of a casino gaming corporation.

Bloomberg News reports that the Securities and Exchange Commission action against James T. Adams was announced by the agency in a statement Tuesday outlining settlement of its administrative case. A

dams, who was Deloitte’s chief risk officer, was accused of drawing markers - which are used by a casino customer to receive gaming chips drawn against the customer’s line of credit - from July 2009 until he retired from the firm in May 2010, the SEC said.

'The transactions by which Adams accepted the casino markers were loans from an audit client that are prohibited by the auditor independence rules', Scott W. Friestad, associate director in the SEC’s enforcement unit, said in the statement. 

To access the complete Bloomberg article hit the link below:

Ex-Deloitte Risk Chief Settles SEC Claim He Took Casino Markers

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