Word: subpoenaing
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...consultation with others in the firm" organized the destruction of documents as Enron's losses mounted in October. Seeking to put as much distance as possible between the home office and a wayward Houston branch, the company pointed out that all shredding had ceased once the sec issued a subpoena in the Enron matter. As a former Andersen partner in Chicago told Time, "The issue of document deletion is entirely dependent on when the organization was aware that there might be a liability issue. Liability begins once there is knowledge...
...Andersen lawyer, which was the story Duncan was telling congressional investigators deep into Wednesday night. But he sure knew enough to go on a shredding-and-deleting rampage that, the firm says, lasted from Oct. 23 to "shortly after" Nov. 9, the day the SEC sent over its subpoena...
Harvard Corporation member Herbert S. “Pug” Winokur ’64-’65 received a subpoena from the Senate’s Permanent Subcommittee on Investigations along with 51 others for their connection to the Enron Corporation, which collapsed in bankruptcy in early December...
...Though there are no firm rules on how long accounting firms must retain documents, most hold on to a wide range of them for several years. Any deliberate destruction of documents subject to subpoena is illegal. In Arthur Andersen's dealings with the documents related to Enron, "the mind-set seemed to be, If not required to keep it, then get rid of it," says Ken Johnson, spokesman for the House Energy and Commerce Committee, whose investigators first got wind of the Oct. 12 memo and which is pursuing one of half a dozen investigations of Enron. "Anyone who destroyed...
...Arthur Andersen, criminal charges could result if it can be shown that its executives ordered the destruction of documents while being aware of the existence of a subpoena for them. A likely ploy will be for prosecutors to target the auditors, hoping to turn them into witnesses against Enron. Says Coffee: "If the auditors can offer testimony, that would be the most damaging testimony imaginable...