Tim Rogers has written an explosive inside look at the world of Darwin Deason, founder of ACS in the June D Magazine:
Rather, the serious matter—the one that may yet hold repercussions for Deason and for the Fortune 500 company still under his sway—isn’t what happened aboard the Cartoush. It turns out to be the Cartoush itself. In papers filed earlier this year in federal court, it is claimed that Deason, as the chairman and controlling stockholder of ACS, set up a complex scheme of off-balance-sheet corporations that, in essence, provided him free use of not only the Cartoush II and its predecessor, but also a squadron of private jets—all at the expense of taxpayers and the companies he controlled. The charges may interest the SEC and the IRS.
Looks like another Enron-type incident. With all these stories (Enron, Worldcom, Global Crossing, Tyco, etc.) you begin to wonder how much of the 90s growth was a sham.
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