Ernst & Young Sued Over Perot Hedge Fund Collapse

Investors in a hedge fund managed by former presidential candidate H. Ross Perot’s family office have sued its accountants, accusing them of helping Parkcentral Capital Management defraud them.

The lawsuit alleges that Ernst & Young “facilitated, assisted in and participated in” the fund’s fraud. A lawyer for the investors said that Parkcentral’s “audited financial statements never once warned Parkcentral’s investors of their impending doom.”