February 25, 2005
Sarbanes-Oxley IS NOT working in my opinion. I am a shareholder of Nextcard which was a pioneer in the internet credit card business. Thomas Trauger a former EY accountant was cooking the books for Nextcard. The feds finally found out and Mr. Trauger was the first accountant to be charged under Sar-Ox. Whoop-dee-doo As a shareholder I am still left holding this bag I want Sar-Ox to have teeth. EY should have paid a hefty fine by now with those proceeds going to the Nextcard shareholders. The little guy always gets screwed. I want EY to pay back what was stolen from me and pronto This is the very first accountant charged under Sar-Ox Yet as a shareholder I am still waiting to be protected. What Gives??????