Federal Investigators Turn Their Focus To Former Lehman CFO Erin Callan

Erin Callan

Photo: goingconcern.com

From Gasparino at Fox Biz:The wide-ranging federal investigation into the bankruptcy of Lehman Brothers, and whether key executives misled investors about the firm’s shaky status in the months preceding the firm’s demise, has begun to focus on the actions of the firm’s former chief financial officer Erin Callan, FOX Business has learned.

While the Securities and Exchange Commission’s inquiry isn’t complete, and other key executives like the firm’s former chief executive officer Dick Fuld are still under scrutiny, officials at the agency have begun to delve into Callan’s actions during the first quarter of 2008, when the firm reported modest earnings even as other firms began to announce losses because of the increasingly toxic nature investments tied to real estate.

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