Bloomberg Business Week offers a profile of a former associate general counsel at Lehman Brothers (Lehman Brothers news), who has gone public with this view that former CEO Richard Fuld (Richard Fuld news) fudged the figures when it came to how much money he made at Lehman Brothers.

The real problem is that he did the fudging while he was under oath. In a congressional hearing, Fuld and Rep. Henry Waxman disagreed on how Fuld "had taken out of Lehman before it went under." Fuld said his total compensation from 2000 through 2007 "was less than $310 million, not the $485 million that appeared on Waxman's chart."

Oliver Budde, however, tells a reporter that Fuld had actually "understated the amount he was paid during those years by more than $200 million, and now he had done it under oath, for the entire world to see." At Lehman, he was the guy who prepared the public filings on executive compensation. And he harbored a lot of anger at what he calls the firm's intentional under-representation of how Fuld and others were paid. 

For more:
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