GOPwinger Lies/Distortions/Omissions/Perversions of Truth Message Board

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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth

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To: Peter Dierks who wrote (48592)	6/1/2005 11:33:33 AM
From: jttmab	Read Replies (1) of 173976

As we argued at the time, it would have been wiser for the Justice Department to go after individual Andersen partners for obstructing justice. It was pretty dumb to indict the entire company. I think that may be the first time a company had been indicted, as opposed to officers of the company. But Bush/Ashcroft hand picked Thompson to lead the Justice Department's Corporate Crime Task Force. They figured he had the right experience for the job.... Judicial Watch, the public interest group that investigates and prosecutes government corruption and abuse, announced today that it is filing a shareholders suit in federal court in San Francisco, Calif., against Deputy Attorney General and Corporate Crime Task Force head Larry D. Thompson and other directors and officers of Providian Financial Corporation, as well as Providian itself, for alleged securities fraud involving misleading accounting practices and insider trading. Incredibly, Deputy AG Thompson was recently appointed by Attorney General John Ashcroft and the Bush-Cheney administration to head the Corporate Crime Task Force, which was recently created to combat the very kind of fraud and corruption alleged in this new lawsuit. Documents filed by Providian with the U.S. Securities and Exchange Commission state that Thompson was the Chairman of the Providian Audit and Compliance Committee for several years prior to his resignation to become Deputy Attorney General in mid-2001. The Complaint alleges that Thompson and other director and officer defendants knew that Providian's financial condition was deteriorating and adopted a fraudulent scheme to delay recognition of losses from the second quarter 2001 into the third quarter 2001, thereby artificially enhancing and inflating Providian's stock prices and allowing the individual defendants to exercise their stock options and sell their stock to unsuspecting buyers before Providian's true financial condition could be discovered. The Complaint further alleges that Thompson abused his official position to block any action by the Justice Department into the alleged fraudulent and illegal activities of Providian and the current and former insiders, including Thompson himself.... thelaborers.net

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