BANKRUPT BANKER
Is Ernst &Young really responsible for Lehman’s collapse? - Business News - Stock Market Digital
Wednesday 22 December 2010
Is Ernst &Young really responsible for Lehman’s collapse? - Business News - Stock Market Digital: "According to the recent updates, Andrew Cuomo, New York’s Attorney General has claimed that accountancy giant Ernst &Young (E&Y) was involved in a massive accountancy fraud committed by Lehman Brothers under the Martin Act. Technically, the Martin Act allows the top enforcer of New York to investigate the wrongdoings related to the financial swindles and bring the matters up. Cuomo has used this powerful tool against the Ernst &Young, holding the company responsible for Lehman’s bankruptcy.
As reported by BBC News, Ernst &Young has defended itself saying that there is no concrete proof that would prove E&Y’s complicity in the fraud game."
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