Madinat al-Muslimeen Islamic Message Board

A R C H I V E S

Bush anti-corruption chief accused of account frau

Madina Archives


Madinat al-Muslimeen Islamic Message Board

Bush anti-corruption chief accused of account frau
sabri
08/15/02 at 22:21:10
[slm]
By Simon English in New York
(Filed: 15/08/2002)


President Bush's efforts to clean up corporate America were dealt an embarrassing blow last night when the man charged with leading his new anti-corruption task force was sued for alleged fraud.

Larry Thompson, who is also deputy attorney general, was accused of dubious accounting practices and insider trading while on the board of Providian, a credit card issuer that also operates in Britain.

Judicial Watch, the self-styled watchdog that is also suing vice-president Dick Cheney for alleged accounting malpractice when he was chief executive of oil group Halliburton, filed the suit on behalf of a Texan shareholder in a San Francisco court.

The suit alleges that Mr Thompson and other directors conspired to hide Providian's mounting losses in 2001, inflating the company share price.

Mr Thompson sold more than £3 million of shares before the financial problems became public, it is claimed. He was a board director for four years from 1997.

www.telegraph.co.uk
[wlm]


Madinat al-Muslimeen Islamic Message Board
A R C H I V E S

Individual posts do not necessarily reflect the views of Jannah.org, Islam, or all Muslims. All trademarks and copyrights on this page are owned by their respective owners. Comments are owned by the poster and may not be used without consent of the author.
The rest © Jannah.Org