Tuesday, February 05, 2002

Fingers point to lawyers on Enron Scam

According to the Washington Post, "Attorneys from Vinson & Elkins, one of Houston's largest and most prestigious law firms, played a critical role in helping Enron Corp. structure a series of complex partnership deals that helped drive the company into bankruptcy" as attested to by former senior Enron executives and shown by documents.

The report said, the lawyers worked side-by-side with Enron officials and Arthur Andersen accountants to create several off-balance-sheet investment partnerships that are now at the center of government investigations into possible shareholder fraud. The deals helped Enron conceal hundreds of millions of dollars in debt and gave investors a false picture of the company's financial stability.Full text here.

Okay, I knew it. This is another one of those little proofs to that maxim that behind every major scam in the world is a blood-sucking lawyer.

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