PwC braced for £25m court battle

Video: How coronavirus is impacting the US economy (FOX News) The fund's administrators claim it was run as a 'fraudulent Ponzi scheme' and that PwC, which gave Providence's books a clean bill of health in 2013 and 2014, should have sounded the alarm. Providence claimed to invest money in the Brazilian debt market but instead most of investors' cash was fraudulently funnelled into other parts of the group or companies controlled by its boss, Antonio Buzaneli.  He was jailed for 20 years in the US in 2019 for orchestrating a £122million Ponzi scheme, which prosecutors said 'targeted hundreds of victims worldwide, many of whom were elderly and vulnerable'.