-Caveat Lector- (I suspect you won't here much about "Arthur Anderson' in the years ahead as a viable company. Would you want to use AA for your auditor to give your bankers confidence? I think not. )
------- Forwarded message follows ------- Date sent: Sat, 12 Jan 2002 10:02:37 -0800 From: Archibald Bard <[EMAIL PROTECTED]> Subject: SNET: ENRON's CPA Arthur Andersen/Arizona Baptist 'Ponzi' scheme To: AGENDAS <[EMAIL PROTECTED]> Send reply to: [EMAIL PROTECTED] -> SNETNEWS Mailing List Arizona sues Andersen April 26, 2001: 9:03 a.m. ET State alleges accounting firm played role in securities fraud by Baptist group NEW YORK (CNNfn) - Arizona state officials and securities regulators have jointly filed a lawsuit against Arthur Andersen LLP, alleging that the auditor willingly participated with a religious foundation in an investment fraud, according to a published report Thursday. The state is suing the accounting firm over what it contends was Arthur Andersen's involvement in an alleged cover-up of a securities fraud by the Baptist Foundation of Arizona, the Wall Street Journal reported. The paper, citing an unnamed former Andersen accountant, said the firm ignored warnings from its own auditors that the religious group had inflated the value of its assets and was covering up losses, and issued a clean audit, which the foundation then used to attract new investors. The lawsuit, which seeks investor restitution of as much as $600 million, alleges Andersen's legal group also ignored anonymous phone calls in mid- 1997 warning that the foundation's investment operation was a "Ponzi" scheme, in which money paid in by later investors was used to pay inflated returns to the original investors, the Journal said. Andersen, in the report, maintains it acted appropriately and was cooperating with the criminal investigation into the alleged fraud. "Any time senior management conspires to defraud investors, this kind of complicated fraud will be very difficult to detect," the paper quoted Ed Novak, an outside attorney for Arthur Andersen. http://money.cnn.com/2001/04/26/companies/andersen/index.htm Listen to the Fastest growing nationally syndicated Talk Show in America! THE SAVAGE NATION presented by Michael Savage, whose Motto is (for the Survival of America) 'Borders, Language, and Culture' http://sites.hsprofessional.com/prs/index.html If you can't find him in your local area, listen on TalkRadioNetwork.com Live 7PM, Encore 2AM http://www.talkradionetwork.com/index.php?main MICHAEL SAVAGE SAYS: 1. STOP THE FLOOD of Criminal Foreigners into America. 2. Deport all Foreign Nationals who have bypassed a Criminal background check. 3. Deport all Foreign Nationals from our laboratories. 4. Put our military and/or National Guard Units on our borders pending establishment of an automated detection system. 5. Throw out all "hate crime" laws and go after the snakes in their hiding places. 6. Require a LOYALTY OATH of all immigrants naturalized by the Clinton Regime. While we were sleeping, the enemy came and sowed weeds among the wheat. Matthew 13:25 Archibald Bard ICQ 83834746 TO KEEP THE PEACE, KEEP YOUR PIECE! -> To unsubscribe send email to [EMAIL PROTECTED] ==^================================================================ This email was sent to: [EMAIL PROTECTED] EASY UNSUBSCRIBE click here: http://topica.com/u/?b1ddDh.b1hBhC Or send an email to: [EMAIL PROTECTED] T O P I C A -- Register now to manage your mail! http://www.topica.com/partner/tag02/register ==^================================================================ ------- End of forwarded message ------- ------------------------ "In little more than a year we have gone from enjoying peace and the most prosperous economy in our history, to a nation plunged into war, recession and fear. 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