Houston (June 18, 2004) -- Two years after Arthur Andersen's trial and conviction on a single count of obstruction of justice, three circuit court judges unanimously upheld a Houston jury's decision and denied the accounting firm's appeal to reverse the conviction, which effectively put an end to what was once the largest firm in the country.
The firm, once considered the "gold standard" of auditing, was found guilty on June 15, 2002, of destroying documents related to its audits of bankrupt energy giant Enron -- Andersen's largest client -- in an effort to keep them out of the hands of the Securities and Exchange Commission. Andersen ended its audit practice in August of 2002.
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