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Letter Warned of Enron 'Scandals'; Chairman Didn't Want Accounting Questioned.
Knight Ridder/Tribune Business News, January, 2002
By Jim Landers, The Dallas Morning News Knight Ridder/Tribune Business News
Jan. 14--WASHINGTON--Enron Corp. chairman Kenneth Lay was warned in August by a senior staffer that the company could implode in a wave of accounting scandals and that repairing the damage would be "a bit like robbing the bank in one year and trying to pay back two years later."
The warning, contained in a seven-page letter, prompted Mr. Lay to order an investigation, but Enron officials told the firm's legal team not to second-guess the company's accounting techniques, according to two congressmen.
Vinson & Elkins LLP attorneys reported back on Oct. 15 that their investigation found no facts that had not either been known or disclosed by company officials and...
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