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The Collapse of WTC 7:
"A Wholesale Loss of Documents"

[WTC 7] contained offices of the FBI, Department of Defense, IRS (which contained prodigious amounts of corporate tax fraud, including Enron’s), US Secret Service, Securities & Exchange Commission (with more stock fraud records), and Citibank’s Salomon Smith Barney, the Mayor’s Office of Emergency Management and many other financial institutions. [Online Journal]

The SEC has not quantified the number of active cases in which substantial files were destroyed [by the collapse of WTC 7]. Reuters news service and the Los Angeles Times published reports estimating them at 3,000 to 4,000. They include the agency's major inquiry into the manner in which investment banks divvied up hot shares of initial public offerings during the high-tech boom. ..."Ongoing investigations at the New York SEC will be dramatically affected because so much of their work is paper-intensive," said Max Berger of New York's Bernstein Litowitz Berger & Grossmann. "This is a disaster for these cases." [New York Lawyer]

Citigroup says some information that the committee is seeking [about WorldCom] was destroyed in the Sept. 11 terror attack on the World Trade Center. Salomon had offices in 7 World Trade Center, one of the buildings that collapsed in the aftermath of the attack. The bank says that back-up tapes of corporate emails from September 1998 through December 2000 were stored at the building and destroyed in the attack. [TheStreet]

Inside [WTC 7 was] the US Secret Service's largest field office with more than 200 employees. ..."All the evidence that we stored at 7 World Trade, in all our cases, went down with the building," according to US Secret Service Special Agent David Curran. [TechTV]

"Regardless of what the regulators say, they lost a ton of files," says Bill Singer, a New York securities lawyer, who says one case he had pending before the SEC quickly settled because so many of the original documents were destroyed. "In my opinion it was a wholesale loss of documents." [TheStreet]


See also:

Larry Silverstein, WTC 7, and the 9/11 Demolition
The 9/11 WTC Collapses: An Audio-Video Analysis


What Really Happened