Did Fuld Commit Perjury?

mod (Andy) note: "Blast from the past - Best of Eddie" - This one is originally from April 2010 . If there's an old post from Eddie you'd like to see up again shoot me a message.

Here's a nice bombshell allegation from a former Lehman VP: Dick Fuld committed perjury when he testified under oath about his compensation. Former associate general counsel Oliver Budde says Fuld understated his income by hundreds of millions of dollars and he can prove it, but no one wants to hear it.

For nine years, Budde had served as an associate general counsel at Lehman. Preparing the public filings on executive compensation had been one of his major responsibilities, and he had been infuriated by what he saw as the firm's intentional under-representation of how much top executives like Fuld were paid. Budde says he argued with his bosses for years over the matter, so much so that he eventually quit the firm. After he left, he couldn't let the matter rest. He contacted the Securities & Exchange Commission and the Lehman board of directors but says neither showed interest in meeting him.

Budde goes on to describe a very repo-105 approach to executive compensation known as RSUs, how Fuld earned an undisclosed $409 million, and how he (Budde) has the goods that could prove perjury. Pretty interesting reading...