Both U.S. and Canadian regulators have filed charges against a group of former Nortel executives over illegal activities that included lying to investors and reporting false numbers to the SEC. Canada's Ontario Securities Commission and the U.S. SEC are alleging that former Nortel execs conspired to "fix" earnings between 2000 and 2004.
Amongst the group facing charges are former chief executive Frank Dunn, former finance chief Douglas Beatty, and former controller Michael Gollogly. Former controller MaryAnne Pahapill also faces charges from the SEC. Further details on the Nortel charges here, via the FT
Labels: accounting fraud, Douglas Beatty, Frank Dunn, homeland security, MaryAnne Pahapill, Michael Gollogly, Nortel, Ontario Securities Commission, securities