Enron auditor admits breaking the law

Former Arthur Andersen auditor Mr David Duncan has implicated himself and his former employer in the shredding of Enron documents…

Former Arthur Andersen auditor Mr David Duncan has implicated himself and his former employer in the shredding of Enron documents.

Andersen was responsible for auditing Enron, the energy trader that became the world's biggest bankruptcy in December.

Andersen has been accused of helping Enron hide its true financial position and of destroying documents as federal investigators moved in.

Mr Duncan told the hearing in Houston, Texas, he knew he was breaking the law when he directed other employees to follow Andersen policies that destroyed the papers.

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But Andersen claims no one intentionally destroyed documents to keep them out of the hands of federal officials.

Mr Duncan, pleaded guilty last month to obstruction of justice in exchange for a more lenient sentence. He will continue giving evidence today.

In addition to testifying about document destruction, Mr Duncan is expected to shed light on the financial web that Enron spun as it became one of America's largest corporations, at least on paper, before declaring bankruptcy on December 2nd.

PA