Former Nortel Execs Await Corporate Fraud Ruling

Posted by samzenpus on Sunday January 13, 2013 @10:00PM from the day-of-reckoning dept.

An anonymous reader writes "Three former Nortel executives accused of orchestrating a widespread multimillion-dollar fraud will learn their fate in Toronto on Monday, nearly a year after one of the largest criminal trials in Canada's corporate history began. Ontario Superior Court Justice Frank Marrocco is set to rule on whether ex-CEO Frank Dunn, ex-CFO Douglas Beatty and ex-controller Michael Gollogly manipulated financial statements at Nortel Networks Corp., between 2002-2003. The men, who each face two counts of fraud, are accused of participating in a book-cooking scheme designed to trigger $12.8 million in bonuses and stocks for themselves at the once powerful Canadian technology giant."

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Re:One of the execs by rHBa · 2013-01-13 23:45 · Score: 4, Insightful

Assuming they are found guilty they should be hit with massive fines AND jail sentences.

If Aaron Swarts can be threatened with 30 years and massive fines for essentially a victimless crime...