HOUSTON, June 16 (UPI) -- A federal appeals court Wednesday upheld the conviction of the accounting firm Arthur Andersen LLP in the Enron Corp. investigation.
A three-judge panel of the 5th U.S. Circuit Court of Appeals affirmed the 2002 obstruction of justice verdict, the Houston Chronicle reported.
Patrick Dorton, an Andersen spokesman, said officials were disappointed but not surprised given the constraints of the appeal process.
"We continue to believe strongly that the criminal prosecution of a firm of 28,000 people was unjustified and the ensuing collapse of Arthur Andersen was an undeserved tragedy for its employees, clients and the business community at large," he said.
James Comey, deputy attorney general, said the Andersen conviction was "a signal event" in promoting a re-evaluation of what is expected of corporations and their executives.
A Houston federal court jury convicted Andersen in June 2002 of obstructing an expected Securities & Exchange Commission investigation of the Houston energy company.
