Key points:
- Ernst & Young is alleged to have provided audits and compliance services to gaming businesses related to organized crime
- Howie blew the whistle. He has since left the firm
Ernst & Young (EY) is under fire after a former partner and whistleblower Joe Howie claimed the firm knowingly gave auditing and compliance services to gambling businesses known to be associated with international organized crime, including the Chinese mafia.
Indeed, Howie claims these failings allowed these organizations to engage in money laundering and misinformation. He is being represented by Wigdor LLP in court, having filed a lawsuit against the firm.
Specifically, EY is alleged to have provided clean audits to businesses related to Alvin Chau and Levo Chan, both of whom had connections to Triad syndicates via VIP gambling rooms and were arrested in 2023 for 18 and 14 years, respectively.
EY’s internal risk assessments were allegedly either incomplete or altered, and it is alleged that these failings expanded outside of Asia, as EY also had clients connected to organized crime in the US and around the world.
Howie has since exited the firm, claiming he was forced out following 35 years of service, 24 of which were as a Partner. He has said he brought up EY’s failings internally in the past, but the firm allegedly did not take effective action against them.
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