Prosecutors had alleged that Mr. Bennett and others at Refco schemed to hide the commodity broker's dismal financial picture from its banks, auditors and investors from the mid-1990s to about October 2005As I've heard the story, this was done via the quarterly reports. It was actually a newly employed comptroller, hired at just the right (or wrong, depending on your perspective) time of the fiscal quarter, who was burning the midnight oil getting up to speed with his new job that uncovered the irregularities in the accounting.
Interestingly, the two or three firms that were called in to perform due diligence just a couple of months prior to this when Refco stock went public somehow didn't see a thing.
Hmmm...
[It was actually a newly employed comptroller, hired at just the right (or wrong, depending on your perspective) time of the fiscal quarter, who was burning the midnight oil getting up to speed with his new job that uncovered the irregularities in the accounting.]
Some people just ignore the posted signs... and focus on the truth. Good for him.
