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Transferring those property to SPEs meant they were being kept off Enron’s publications, earning its losses appear considerably less severe than they truly have been.
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Arthur Andersen also came beneath powerful scrutiny, As well as in March 2002, the U.S. Division of Justice indicted the business for obstruction of justice. Shoppers wishing to guarantee traders that their financial statements could fulfill the very best accounting benchmarks abandoned Andersen for its opponents. They had been shortly followed by Andersen workers and total offices.
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