Nortel’s dirty money


Looks like the scandal at Nortel is expanding and is going to be looking at more people. Oy Ve! From this morning’s Wall Street Journal:

bq. Nortel, Brampton, Ontario, last week fired President and Chief Executive Frank Dunn, Chief Financial Officer Douglas Beatty and Controller Michael Gollogly, saying the three were “terminated for cause.” At the same time, Nortel also said four unnamed “finance executives” were placed on paid leave of absence “pending further progress” of an internal investigation into the company’s accounting……The finance chiefs are: James Kinney, Wireless Networks; Ken Taylor, Enterprise Networks; Craig Johnson, Wireline Networks; and Doug Hamilton, Optical Networks, according to people familiar with the situation. Mr. Kinney, reached at home, declined to comment, saying “it’s best if I say nothing.” Mr. Taylor and Mr. Hamilton didn’t return calls to their business phones, and Mr. Johnson wasn’t available.

Comments are closed.