http://www.bloomberg.com/news/2013-12-05/book-cooking-bank-gets-to-keep-cooked-books.html
The funny part: Fifth Third, which is Ohio's largest bank, has never
acknowledged to this day that its numbers were in error. The SEC isn't
requiring it to do so now. A Fifth Third spokesman, Larry Magnesen, said
the company considered whether it needed to do a financial restatement
and decided it didn't.
Reasonable people might disagree about
whether Fifth Third committed fraud. Per the usual protocol, Fifth Third
neither admitted nor denied the SEC's allegations. Yet it's beyond
belief that the company never had to set the record straight about its
financial statements. Fifth Third first disclosed the SEC's
investigation in its 2010 annual report. So the bank has had a few years to revise its figures.
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