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Non-Tech : The ENRON Scandal -- Ignore unavailable to you. Want to Upgrade?

To: Patricia Trinchero who wrote (3151)	2/27/2002 9:46:39 PM
From: Raymond Duray	Respond to of 5185

Anyone can accept a bribe. Scalia is about as bent as man can be without turning into a pretzel.

To: Patricia Trinchero who wrote (3151)	3/1/2002 6:37:18 PM
From: Raymond Duray	Respond to of 5185

ARTFUL ANDERSEN AT IT AGAIN IN ARIZONA, BAPTIZING PONZI SCHEMERS Hi Pat, Thought this one might interest you..... thestreet.com <Copy> Arthur Andersen to Pay $217 Million to Settle Bankruptcy Suit By TSC Staff 03/01/2002 05:21 PM EST Enron auditor Arthur Andersen agreed to pay $217 million to settle an accounting malpractice case related to the 1999 collapse of the Baptist Foundation of Arizona. The foundation's bankruptcy was the largest ever by an American nonprofit foundation. Investors, most of them retirees, lost millions in what amounted to a pyramid scheme that Andersen repeatedly certified. The settlement is the second-largest ever paid by a Big Five accounting firm for litigation unrelated to the savings and loan crisis, and is by far the most Andersen's ever paid -- at least up to now. Founded in 1948 to raise money for Southern Baptist causes, the BFA marketed securities as retirement vehicles for investors, and served as a custodian for tax-deferred IRAs. It filed for bankruptcy in November 1999 with total liabilities of $650 million and listed assets of about $290 million. A successor trust to the BFA alleged Andersen had been negligent and breached its fiduciary duties in failing to disclose financial improprieties by former BFA senior managers, even after a series of whistleblowers alerted Andersen to the ongoing fraud. .......................................................... I wonder if we can watch the negotiations on a 110 inch TV somewhere? -Ray