- The Washington Times - Friday, July 19, 2002

Global Crossing Ltd. employees shredded critical financial documents after learning that the company was under a securities fraud investigation, according to bankruptcy court filings.
An assistant to Global's vice president for finance, Joseph P. Perrone, as well as his son-in-law were involved in the document destruction at the company's Madison, N.J., office, the documents, recently unsealed by a bankruptcy court, say.
Records of senior executive Wallace Dawson also were destroyed in late January, the documents say.
The House Energy and Commerce Committee, which is investigating Global Crossing's accounting practices, disclosed the documents destruction yesterday. The committee is demanding additional information from the company concerning the shredded documents.
The purge of documents could result in obstruction of justice charges against the company. Arthur Andersen, formerly the auditor of Global Crossing as well as Enron Corp., last month was convicted of obstructing a Securities and Exchange Commission probe when it shredded audit documents.


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