A key witness in the damning inquiry into Lehman Brothers' collapse was laid off by the bank a month after raising concerns about the way it had accounted for $50bn of risky loans.
Matthew Lee, a senior vice-president in Lehman's accounting division, warned senior executives on May 16, 2008, that the bank was hiding huge risks from investors and regulators when it reported its quarterly figures, writes the Times. By the end of June Mr Lee had lost his job "as part of a wider restructuring". He had worked for the bank for 14 years. Erwin Shustak, Mr Lee's lawyer, told The Wall Street Journal: "It was easier just to shut him up and let him go." Full story...
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