April 22, 2002

Arizona attorney general seeks BFA money
___PHOENIX (RNS)--Arizona's attorney general has asked that the U.S. Justice Department compensate victims of the failed Baptist Foundation of Arizona with money it collects from Arthur Andersen, which was the foundation's bookkeeper.
___Janet Napolitano's April 12 letter to Attorney General John Ashcroft follows a pullout by Andersen from a $217 million settlement it had agreed to pay for claims from foundation investors and a state disciplinary investigation. The firm said in late March its insurance carrier was unable to pay the sum.
___"Given Andersen's apparent fiscal condition, it would be inappropriate for the government to retain any civil monetary penalties it obtains from Andersen, either through settlement or court judgment," she wrote to Ashcroft.
___Napolitano's letter was written as Andersen also began to comply with a subpoena issued by the state Board of Accountancy that sought details on what insurance Andersen currently carries. Without a settlement, parties involved in the litigation regarding the foundation and Andersen are now preparing for a trial that is scheduled to begin April 29.

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