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According to the sworn affidavit of "Bush Team" endorsed CPA, R. Larry Johnson, MONY first
started cooking their books in 1982. Coopers & Lybrand / PricewaterhouseCoopers has issued unqualified opinions falsely
claiming to be independent on financial statements with hundreds of millions of dollars in illegal transactions. MONY's Chairman,
Michael I. Roth, is a former Coopers & Lybrand partner. Mr. Johnson, whose affidavit is available on this site, was unaware
of the Florida Department of Insurance letter to Mr. Roth at the time of his affidavit and did not know of the outside financial
dealings between MONY and Coopers & Lybrand that violated the auditor independence rules. During 1998 PricewaterhouseCoopers
used the fraudulent financials to take MONY public with the blessing of the SEC's Northeastern Regional Director, Carmen J.
Lawrence. Ms. Lawrence was then rewarded with the position of Co-Partner to Harvey Pitt at Fried, Frank, Harris, Shriver &
Jacobson. Mr. Pitt was then appointed Chairman of the Securities and Exchange Commission by President Bush. Mr. Pitt and his
minions at the SEC now refuse to answer FOIA requests to protect PWC and President Bush's illegal dealings with MONY. Additional
information about corruption at the Securities & Exchange Commission and Grand Jury Letter to Governor G. W. Bush is available
@ http://www.SPITZERAG.com/ http://www.MONYINTERNATIONAL.com/ http://www.MONYBUSH.com/ http://www.MONYSUCKS.com/ http://www.TAMUEX.com/ http://www.GonzalesAG.com/
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Subj: ETHICS
Date: 9/9/98 4:03:54 PM Pacific Daylight Time
From: RAbshire
To: larry.keeshan@us.pwcglobal.com
CC: walter.ricciardi@us.coopers.com
CC: pbonfield@asclu.org,
Mr. Larry Keeshan
General Counsel
PricewaterhouseCoopers L.L.P.
Dear Mr. Keeshan,
From the BUSINESS WIRE I read that the American Society
of CLU & Chfc had named Pricewaterhouse Coopers, L.L.P. to receive the 1998 American Business Ethics Award for the work
Coopers and Lybrand had done on the development of their "business conduct program." This is a great accomplishment
for your organization and one I am sure members of your firm will remember for many years to come. It appears that your firm
may have set a new standard for the rapidly declining integrity of the accounting industry.
I personally talked
to the American Society this morning about the rigorous screening program that they put companies through before selecting
the award winners. It appears that someone was a little lax in doing Coopers and Lybrand's part of the paperwork. Could you
send Ms. Phyllis Bonfield at the American Society a copy of the settlement agreement between Coopers and Lybrand and the USDOJ
over the "Bid Rigging" of government contracts in Arizona. They didn't know anything about it or the Maxwell Pension
problem or "you know"......
R. Dale Abshire
4316 Pembrooke Pkwy N.
Colleyville, Texas
76034
Subj: Missing Ethics Award !
Date: 9/24/98
To: pbonfield@asclu.org
Ms. Phyllis
Bonfield
American Society of CLU, ChFC
Dear Ms. Bonfield:
On Sept. 9th I contacted Ms. Susan
Farmer in your office about the naming of Pricewaterhouse Coopers as a recipient of the American Business Ethics Award by
the American Society of CLU & ChFC. Having been in the life insurance business for over 27 years I was shocked that the
your organization would knowingly grant an Award for "Ethics" to a company that was on "Probation" with
the US Department of Justice for "Bid Rigging" of government contracts in Arizona and currently under investigation
by both the Arizona and Texas Boards of Public Accountancy.
Ms. Farmer assured me that Pricewaterhouse Coopers
L.L.P. had been thoroughly questioned about any issues of the type mentioned above and had passed a rigorous screening by
the Society. She stated that if what I had said was true that the Society would not present the Award to them. She asked for
any information I had to substantiate the "Probation". I faxed the information to you and copied you on the attached
letter to Pricewaterhouse Coopers' General Counsel, Mr. Larry Keeshan.
On Monday of this week ( Sept. 21st ) your
General Counsel, Ms. Anne Rigney, had one of the most amazing stories about how the American Society of CLU & ChFC had
awarded the ABEA Award to Pricewaterhouse Coopers L.L.P. because they had had an ethics problem and had developed the "business
conduct" program to insure that the problem would never occur again.
My first thought was that you and the
American Society of CLU & ChFC should immediately implement the program in your office, which obviously hasn't got a clue
as to the meaning of "ETHICS". I then reviewed the 1994 financial statements for my insurance company ( MONY ) and
the Consent Order between MONY and the Florida Department of Insurance dated Feb. 16, 1996, along with the admissions of Governor
George W. Bush and N.A.I.C. President, Ms. Josephine Musser. I also checked my mail box and found that Mr. Neil Levin, Superintendent
of the New York Department of Insurance, had not responded to the attached request. I then realized that it would be a waste
of your time to implement the plan at the American Society of CLU & ChFC as it had not worked at Coopers and Lybrand L.L.P.
Your actions with regard to this award are disgusting and a disgrace to the entire insurance industry. In case
you haven't noticed, lying has become an unpopular sport of late!
Sincerely,
R. Dale Abshire
4316
Pembrooke Pkwy N.
Colleyville, Texas 76034
_____________________________________________________________________________________
SO MUCH FOR THE ETHICS PROGRAM AT PWC………
SEC hits Pricewaterhouse
Independent
review finds widespread violation of auditor-independence rules
January 06, 2000: 5:11 p.m. ET
NEW YORK (CNNfn)
- An independent review has found that PricewaterhouseCoopers LLP widely violated accounting rules that prohibit auditors
from owning stocks in companies audited by the firm, the Securities and Exchange Commission said Thursday.
The SEC ordered
the review last January as part of a settlement with the accounting firm relating to auditing-independence violations. At
the time, the SEC also ordered Pricewaterhouse to spend $2.5 million on educating its auditors about the independent-auditing
system and required the firm to submit to a review by outside consultant Jess Fardella, of Lankler Siffert & Wohl LLP.
The SEC had claimed that in several instances between 1996 and 1998 auditors and partners at the firm owned securities in
their publicly held audit clients, a violation of generally accepted auditing standards.
The review’s findings
released Thursday found that the violations were even more widespread than the SEC had first alleged. Almost half of the firm’s
nearly 2,700 partners reported at least one violation of auditing-independence standards and many had multiple violations,
the review found. Most of the violations involved owning mutual funds or stocks in audit clients.
An investigation of
the firm’s practices is ongoing, said Chris Ullman, an SEC spokesman. The SEC has the authority to take action against
specific accountants at the privately held firm, but Ullman declined to comment on whether the commission would pursue such
action.
The SEC also ordered a committee of professional accountants to conduct independent reviews of other major accounting
firms. The SEC made no specific allegations about other firms in its report Thursday.
"This report is a sobering
reminder that accounting professionals need to renew their commitment to the fundamental principle of auditor independence,”
SEC Chief Account Lynn E. Turner said.
In a letter to partners made public Thursday, PricewaterhouseCoopers chairman
Nicholas G. Moore and CEO James J. Schiro said that while the report may be embarrassing to the firm, the objectivity and
integrity of its audits were never compromised by the infractions.
"These infractions of the independence rules,
however unacceptable, did not in any way impair the professional objectivity and integrity of any of our audits,” they
wrote.
Pricewaterhouse was created by the merger of Price Waterhouse LLP and Coopers & Lybrand in July 1998. The
report said that while a large percentage of the violations can be attributed to structural and cultural problems resulting
from the merger, an even larger percentage did not. Fardella also said the company’s reliance on self-monitoring did
not work.
"Thus, the situation revealed by the internal investigation is not a one-time breakdown explained solely
by the merger,” the report said. "The system failed.”
Pricewaterhouse said that it has put new controls
in place to prevent future infractions.
"We are determined to do everything possible so that neither our firm nor
our clients ever again suffer from independence-related problems,” Moore and Schiro wrote.
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