Needless to say, the company never disclosed this practice to the public! The scheme was revealed when the examiner’s report was published a year and a half after the company’s collapse. In that...

Needless to say, the company never disclosed this practice to the public! The scheme was revealed when the examiner’s report was published a year and a half after the company’s collapse. In that report, it was also revealed that the company’s management and its auditors, Ernst & Young, among others, knew of the problem but never acted or raised an alarm.