Wall St Journal
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 …
This article was posted: Tuesday, March 16, 2010 at 4:57 am