As accounting scandals go, Archway is no Enron. Not in the size of the possible accounting fraud itself — sales were probably overstated by a few million dollars — or in its sophistication or ingenuity. Yet what court documents filed in Delaware describe as a fairly simplistic fraud went on for months, seemingly missed by the company’s lenders as well as its savvy, private-equity stewards.
[From What Happened to Archway? - NYTimes.com]
5.31.2009
Cookie crumbles, "savvy" stewards stumped
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment