Four banks are facing questions over the Enron fallout as the company’s
former CFO issued a damaging parting shot before being sentenced yesterday.
Andrew Fastow accused Barclays, Royal Bank of Scotland, Credit Suisse and
Merrill Lynch of devising the schemes which helped him conceal billions of
dollars in losses.
Lawyers for Enron shareholders collected $8bn in settlements from banks
including JP Morgan Chase and the Bank Of America, but the four banks denounced
by Fastow are part of a group of institutions that have refused to settle,
denying any wrongdoing.
Mr Fastow, who once controlled the purse-strings at the energy giant, broke
down in tears as he was sentenced to six years in prison.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements