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Biotech / Medical : Oxford Health Plan (OXHP)

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To: Gene J. Abel who wrote (537)	12/14/1997 7:41:00 AM
From: Thomas Haegin	of 2068

Re: Management fraudulent? Gene, you write/cite << , no blantant fraud here at all. >> I agree on that. I rather think management was "only" careless, looking at growing the business and thinking that "things somehow will sort out in the backoffice". To this end, I would invite any comments on the following proposition: The CFO walked out/was fired not because he covered things up, but rather because he saw it coming and couldn't get through with his stuff.He wanted to warn the public more profoundly, but they wouldn't let him. That's why he walked. The reason why I would undertake this speculation is that CFOs are more or less accountants by training. Accountants are educated to numerical correctness. Also accountants are the ones auditors talk to first. Financial dept. are the first to get whipped should auditors object to any practices/accounts/assumptions. That's why these guys are normally extra careful. At least this is my personal experience. The consequence, of course being that we all should have sold out the moment the CFO was gone... Does such reasoning make any sense or is it scrap? Thomas

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