When Sherron Watkins wrote a memo to Ken Lay bringing up her concerns over the Raptors, Dr. Lay launched into action. He initiated an investigation inside the company and asked Vinson & Elkins to investigate as well. He genuinely wanted to know if there was something going on in his company that was unsavory and actually paid people to try to find some indication of fraud.
The result was less than breathtaking. V&E found nothing awry. This is the report V&E submitted to Enron after their investigation.
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