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Arbor – Letter to EY

May 14, 2024 – Below is the letter sent by Viceroy to Arbor’s auditor Robert Hatch detailing the fraudulent related party transaction detailed in our previous report wherein Arbor financed purchases of assets from its own foreclosures with Arbor loans, via off-balance sheet entities run by former Arbor associates, and entirely financed with Arbor equity capital.

We believe Arbor’s audit deserves intense scrutiny. We understand it is not Ernst & Young’s job to look for fraud, which is why we have brought it to them on a silver platter.