Monday, August 6, 2007

We Are Now Ostrichs All

Mark Kipnis, an attorney for Conrad Black, was convicted as an "enabler of deals he knew were crooked", BusinessWeek, 6 August.

Only 23 of 1,236 recent "convictions obtained by a federal Corporate Fraud Task Force were of corporate counsel". Ronald Safer, Kipnis' lawyer said, "The only legitimate criticism of his client ... 'is that he was not as diligent as he should have been in getting all the ins and outs of every one of these transactions before the audit committee'." Mr. Safer, did you ever hear of an "Ostrich" or "Wilful Blindness" instruction? Of course, Kipnis didn't "know". Apparently the jury concluded he didn't want to.

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