SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Intel Corporation (INTC)
INTC 37.81-4.3%Dec 12 9:30 AM EST

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Raymond Thomas who started this subject3/4/2002 4:33:19 PM
From: semiconeng   of 186894
 
Arthur Anderson Agress To Baptist Foundation Settlement

kfyi.com
Payoff for Baptist Foundation victims
In the largest victim-restitution award in the history of Arizona, the Attorney General's office settled all civil and administrative claims against accounting firm Arthur Andersen for $217 million. Attorney General Janet Napolitano says the settlement does not affect the Baptist Foundation criminal case. The settlement stems from lawsuits filed after the 1999 collapse of the Arizona investment group. It resolves a case brought by a bankruptcy trust for investors in the failed Baptist Foundation of Arizona. Its collapse cost 13,000 mostly elderly investors nearly $590 million. Now those investors will get some of their money back.


Criminal Case Data:
ag.state.az.us

At LEAST some of THOSE people will get SOME of their money back. We "Zonies" have been following this case closely, since it seems that AA (AGAIN) ignored several warnings that the Foundations Finances were in trouble. NOW do you understand why Arizonans have no love for Arthur Andersen...?

Semi
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext