Worley & Obetz trustee: Lyons led $2B fraud overlooked by 'negligent' management
Former Worley & Obetz CEO Jeffrey B. Lyons, along with former controller Karen L. Connelly and her successor Judith A. Avilez, orchestrated a $2B fraud by creating false company revenues, LNP reported Wednesday.
Christine C. Shubert, the trustee overseeing the defunct energy company's bankruptcy proceedings, announced the allegations on Monday.
Read LNP's full report here.
Since June, Schubert has been actively trying to find a way to pay off the company's many debtors, including four Pennsylvania banks.