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Lehman Whistle-Blower’s Fate: Fired

Posted By admin On March 16, 2010 @ 4:57 am In Money Watch | Comments Disabled

Wall St Journal [1]
March 16, 2010

Lehman Brothers Holdings Inc. ousted a whistle-blower just weeks after he raised red flags about the securities firm’s accounting in 2008.

Matthew Lee, a 14-year Lehman veteran, was let go in late June 2008 amid steep losses at the firm as it tried to maneuver through the global financial crisis. Earlier that month, he had raised concerns with Lehman’s auditor, Ernst & Young, that the securities firm was temporarily moving $50 billion in assets off its balance sheet.

This accounting strategy helped to mask the risks Lehman was taking amid scrutiny by investors and regulators …

Full article here [1]

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URLs in this post:

[1] Wall St Journal: http://online.wsj.com/article/SB10001424052748704588404575124134271085018.html?mod=djemalertNEWS

[2] Image: http://itunes.apple.com/WebObjects/MZStore.woa/wa/viewSoftware?id=354152106&mt=8#

[3] Lehman Brothers’ chiefs concealed losses with accounting ‘gimmick’ days before $700billion collapse: http://www.prisonplanet.com/lehman-brothers-chiefs-concealed-losses-with-accounting-gimmick-days-before-700billion-collapse.html

[4] Dodd wants criminal probe of Lehman ‘manipulation’: http://www.prisonplanet.com/dodd-wants-criminal-probe-of-lehman-%e2%80%98manipulation%e2%80%99.html

[5] NY Fed Under Geithner Implicated in Lehman Accounting Fraud Allegation: http://www.prisonplanet.com/ny-fed-under-geithner-implicated-in-lehman-accounting-fraud-allegation.html

[6] Lehman Fraudulently Cooked Its Books, Accounting Giant Ernst & Young Helped, Geithner and Bernanke Winked and Slapped Them on the Back: http://www.prisonplanet.com/lehman-fraudulently-cooked-its-books-accounting-giant-ernst-young-helped-geithner-and-bernanke-winked-and-slapped-them-on-the-back.html

[7] Government Secrets and the Need for Whistle-blowers: http://www.prisonplanet.com/government-secrets-and-the-need-for-whistle-blowers.html

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