What's the status of other recent high-profile corporate scandals?
By The Associated Press
Saturday, March 06, 2004 |
A look at some recent high-profile corporate scandals:
€ Adelphia Communications Corp.: Founder John Rigas, his two sons and former assistant treasurer Michael Mulcahey are on trial in federal court, accused of stealing tens of millions of dollars from the cable television giant's investors to support a lavish lifestyle.
€ Credit Suisse First Boston: Frank Quattrone, the company's former investment banking star, is scheduled to be retried in April on federal charges of obstruction of justice, after a trial last year ended in a hung jury. Quattrone made a fortune taking Internet companies public during the dot-com stock craze.
€ Enron Corp.: Former chief executive Jeffrey Skilling pleaded innocent in February to fraud, conspiracy, insider trading and other federal counts related to the once-mighty energy giant's collapse. Former chief financial officer Andrew Fastow has pleaded guilty to two counts of conspiracy and agreed to cooperate with prosecutors.
€ HealthSouth Corp.: Fired CEO Richard Scrushy is scheduled for trial in August on federal charges of leading a multibillion-dollar scheme to overstate HealthSouth earnings to make it appear the company was meeting Wall Street forecasts.
€ Qwest Communications International Inc.: Four former executives - Thomas Hall, Bryan Treadway, Grant Graham and John Walker - are on trial in federal court, accused of plotting to help the company improperly book $34 million in revenue.
€ Tyco Corp.: Former CEO L. Dennis Kozlowski and former CFO Mark Swartz are on trial for allegedly stealing $600 million from the company. The jury is expected to begin deliberations next week.
€ WorldCom Inc.: Former CEO Bernard Ebbers pleaded innocent Wednesday to federal fraud and conspiracy charges for allegedly directing a massive accounting fraud now estimated at $11 billion. Former CFO Scott Sullivan pleaded guilty a day earlier to conspiracy and securities fraud charges and agreed to testify against Ebbers.
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