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WEDNESDAY, MARCH 27, 2002

Arthur Andersen CEO Joseph F. Berardino announced on Tuesday he will leave his job in order to save the firm as it fights a federal indictment and watches its clients disappear.

The firm has been indicted on charges of obstruction of justice related to the destruction of documents related to Enron. The bankrupt company was a former client.

In related news, the Securities and Exchange Commission filed civil charges against Waste Management Inc., alleging top executives conspired with Andersen to hide $1.7 billion in inflated profits. Andersen has paid $7 million to settle charges related to this investigation but is also facing a separate SEC probe for the Enron scandal.

Get the Story:
Andersen's CEO to Resign (The Washington Post 3/27)
SEC Suit Accuses Firm's Former Leaders of Fraud (The Washington Post 3/27)
Andersen Chief Quits in Effort to Rescue Firm (The New York Times 3/27)
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Relevant Links:
Arthur Andersen - http://www.andersen.com
Enron - http://www.enron.com/corp

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