Monday, April 6, 2009

Should we indict CEO's for signing off on earnings?

Section 802(a) of the SOX, 18 U.S.C. § 1519 states:“ Whoever knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the investigation or proper administration of any matter within the jurisdiction of any department or agency of the United States or any case filed under title 11, or in relation to or contemplation of any such matter or case, shall be fined under this title, imprisoned not more than 20 years, or both. ”

There are a lot of very guilty people here.

1 comment:

Andrew said...

Anyone breaking a worthwhile law should be prosecuted as appropriate.

I would say breaking any law, but we've passed so many ineffective and even stupid laws, I can't say that anymore. That could be its own post.