Did Lucent co-mingle management & represented trust funds?
The LRO believes that Lucent co-mingled the auditing of the funds provided by AT&T for both represented and management employees and has asked to meet with the auditors. Lucent has declined this request. In May 2004, after analysis by an LRO consultant, the LRO asked for the details of a $600 million loan in the management health care trust that depleted the assets and that were not explained by the independent auditor. Lucent executives declined to provide an explanation or permit a meeting with the auditor. We have asked Lucent to clarify and explain why management funds ran out while funds for represented employees will continue to support their healthcare for two more years. Lucent has not answered this question.
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