"A federal judge fined accounting firm Andersen $500,000 and sentenced it to five years probation for obstructing justice in a probe of client Enron, a hollow punishment as the auditor is all but out of business. Since it is a corporate conviction, no one will serve jail time. But the firm, which keeps a minimal corporate structure primarily to settle mountains of litigation, will have to pay the fine and one of its employees will likely have to meet with federal probation authorities. The conviction meant Andersen could no longer audit publicly traded companies, but it was by then a moot point since the indictment had caused nearly all of the firm's publicly traded clients to leave. " They got a slap on the wrist. Andersen Gets Five Years, Fined $500,000 |