November 23, 2005
Government Announces That It Will Not Re-Prosecute Andersen
Arthur Andersen, LLP, prosecuted and initially convicted for the alleged crime of obstruction of justice, had its conviction overturned by the US Supreme Court. CNN reports here that The Department of Justice has now announced that it would not re-prosecute the company. Unfortunately, this turn of events does not assist the many employees who lost their jobs when the government indicted this company. What three lessons can be learned here -
1. That the government prosecutorial power carries enormous weight, and DOJ needs to recognize its power and use it wisely.
2. That innocent until proven guilty does not always work in our judicial system; especially when an appellate or supreme tribunal may overturn a conviction and the ramifications of the initial guilt still remain.
3. That using obstruction of justice as a shortcut, as opposed to investigating and prosecuting underlying conduct is not always the easiest avenue to pursue, especially in the long run.
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» How does the Enron Task Force really feel about Arthur Andersen? from Houston's Clear Thinkers
This earlier post noted the 180 that the Enron Task Force has recently taken in regard to defunct accounting firm Arthur Andersen. After demonizing the firm, gutting it with a misguided prosecution, and alleging that a number of the firm's... [Read More]
Tracked on Nov 23, 2005 7:18:18 AM