BOFI Getting Sued by Ex-Auditor, Down 17.5%

Thanks to Huddaman on the Rule Breakers boards for catching this which is the cause for the large drop to BOFI’s share price this morning:…

The suit says that in January, Bank of Internet told its primary regulator, the Office of the Comptroller of the Currency, that none of its accounts lacked tax identification numbers. The complaint added, however, that Mr. Erhart, whose employment at the bank ended in June, saw a spreadsheet that contained as many as 200 accounts without tax identification numbers.


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