The U.S. Securities and Exchange Commission has charged four more former Nortel Networks Corp. executives with accounting fraud, alleging they manipulated reserves to change Nortel's earnings statements on the orders of more senior officers of the Canadian networking equipment maker. The SEC announced yesterday that it had filed civil fraud charges against Douglas Hamilton, Craig Johnson, James Kinney and Kenneth Taylor, the former vice presidents of finance for Toronto-based Nortel's optical, wireline, wireless and enterprise business units. The commission is seeking unspecified fines, a permanent injunction, repayment of money with interest and an order barring the executives from being officers and directors of any public company.
Read full story...
More...
Hybrid Mode
