Where is this all going to end? It seems that you can't trust anyone these days no matter how big or how important a company or individual seems to be! It will be interesting how this plays out.
Big banks, multi-billion dollar companies, government and small cap companies... there's no one left to trust. The stock market is not a very safe or good way to make money. Even if you are extremely stock savvy, and don't take ANYTHING at face value, your odds are worse than ever. At the absolute minimum... be skeptical, be critical, trust nothing that is vague or open to interpretation, and reassess your position every day.
Read the whole story to see both sides of the accusation, but I have a bad feeling about the outcome.
HP blames $8.8-billion writedown on fraud
Source Globe and Mail: http://bit.ly/UHEJFi
"Ms. Whitman alleged that Mr. Lynch and other former Autonomy executives used “serious accounting improprieties” and engaged in “disclosure failures and outright misrepresentations” to inflate Autonomy’s earnings and revenue before the HP purchase. It was all part of an apparently willful effort by Mr. Lynch to inflate the company’s financial performance and mislead investors and potential buyers, she added."