July 1, 1995 |
Wiz Technology Inc. said Friday that its independent auditors resigned earlier in the week in a dispute over accounting issues. As a result of the dispute, Wiz Technology has not released financial results for its third quarter that ended April 30 and the stock has not traded on the American Stock Exchange since June 21. The company, which markets education, business and game software, said it has retained Coopers & Lybrand's Newport Beach office to replace auditors Corbin & Wertz, Irvine.
January 8, 1991 |
An El Toro accountant pleaded guilty Monday in federal court here to falsifying tax returns as part of a $19-million real estate fraud that investigators claim was perpetrated against more than 1,000 Southern California investors. Kenneth L. Shattuck, 46, admitted that he aided and abetted his employers--the now-defunct Newport Interstate Properties in Newport Beach--in securing a $135,000 line of credit from a bank by filing false financial statements.
June 28, 1991 |
The U.S. attorney's office has dropped charges against an accountant accused of masterminding a plan to flood South America with $2.5 billion in bogus U.S. bills. Officials refused to say why they had dismissed the case against Gary K. McMurtry, 46, of La Habra. "Basically, it came down to office policy," Assistant U.S. Atty. Lawrence Middleton said Wednesday. "I can't comment beyond that." Phil Bronson, McMurtry's attorney, said his client appears to have been led on by the Secret Service.
January 26, 1989 |
The government will issue a report soon blaming some of the nation's largest accounting firms for failing to uncover fraud and mismanagement at savings and loan institutions that will cost taxpayers tens of billions of dollars, according to industry sources.
November 15, 2000 |
The Securities and Exchange Commission reached a compromise with four major accounting firms on an audit-independence rule that would relax an earlier plan's limits on computer consulting contracts, said Russell Horwitz, a senior SEC official. The agreement, which SEC members will vote on today, seeks to prevent conflicts of interest among accounting firms that do consulting work for public companies they audit.
August 1, 1992 |
The government filed a $400-million lawsuit Friday against the accounting firm Arthur Andersen & Co., charging it with malpractice in the failure of Ben Franklin Savings Assn., a major Houston thrift. The suit is the largest ever brought by the Resolution Trust Corp. against lawyers or accountants--a key target in the government's effort to make wrongdoers accountable for the multibillion-dollar thrift crisis.
September 21, 1989 |
A state agency will investigate three major accounting firms that worked on financial statements for insolvent Lincoln Savings & Loan in Irvine to determine if they were negligent, a state Board of Accountancy official said Wednesday. The board will initiate its investigation of Arthur Andersen & Co., Arthur Young & Co. and Touche, Ross & Co. within the "next few weeks," said Gregory J. Newington, the agency's enforcement program director.
March 19, 1999 |
A couple of years ago, Greg Garrison found himself face to face with John Travolta during rehearsals for the Academy Awards broadcast, when the actor began teasing him. "You're the guy from Pricewaterhouse?" Garrison recalls Travolta asking him. "You should be back there recounting. Did you see 'Get Shorty'? I was really good in that. I should have been nominated." "You were really good in that," Garrison responded, adding with authority, "But you weren't nominated." If anyone knows, he does.
CALIFORNIA | LOCAL
April 12, 1996
A Los Angeles man and woman were indicted Thursday by a federal grand jury for allegedly trying to bribe an IRS agent in an effort to get her to reduce the amount of back taxes their businesses owed. James J. Oh, 62, and Marie Song, 37, were charged with conspiracy, bribery of an Internal Revenue Service agent and obstruction of an IRS audit, according to court papers.
September 27, 1994
Robert J. Houston, a former accountant for King president Bruce McNall, will plead guilty to single counts of conspiracy, bank fraud and wire fraud, according to his attorney, David Reed. Houston, who sources said has been cooperating with the government investigation, is accused of filing false tax returns and financial statements to help McNall obtain more than $150 million in loans. Appearing on Monday before U.S.