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03/04/04
Remember
2001, when you started hearing story after story
about top executives at some of America's biggest
corporations cooking the books, causing thousands
of employees to lose their jobs, and losing billions
for their investors?
So what's happened? Are those responsible for
this wave of "crime in the suites" being
held accountable? Absolutely! If you haven't
been keeping track, here's a running list of major
successes:
|
|
Executive*
|
Former Title/Company
|
Result
|
Losses**
|
| Jeffrey
K. Skilling |
CEO,
Enron |
Indicted
|
$80B |
| Andrew
S. Fastow |
CFO,
Enron |
Pled
guilty
|
|
| |
|
|
|
| Bernard
J. Ebbers |
CEO,
WorldCom |
Indicted
|
$11B |
|
Scott D. Sullivan |
CFO,
WorldCom |
Pled
guilty
|
|
| |
|
|
|
| Charles
W. McCall |
Chairman,
McKessonHBOC |
Indicted
|
$9B |
| Albert
J. Bergonzi |
President/COO, HBOC |
Pled
guilty
|
|
| |
|
|
|
| Richard
M. Scrushy |
Chairman/CEO,
HealthSouth |
Indicted
|
$2.5B |
| William
T. Owens |
Pres./COO
& CFO, HealthSouth |
Pled
guilty
|
|
| |
|
|
|
| Martin
L. Grass |
Chairman/CEO,
Rite Aid |
Pled
guilty
|
$1.5B |
| Timothy
J. Noonan |
President/COO,
Rite Aid |
Pled
guilty
|
|
| |
|
|
|
|
Jean-Yves
Haberer
|
Chairman/Pres.,
Credit Lyonnais |
Indicted
|
$1B |
| Jean
Peyrelevade |
Chairman/Pres.,
Credit Lyonnais |
Indicted
|
|
|
*
Please note: the indicted defendants are presumed innocent
until the government meets its burden in court of proving
guilt beyond a reasonable doubt.
** Total estimated losses to investors
for each corporation.
The
grand totals? In concert with its partners, the
FBI is investigating 170 major cases of corporate fraud.
Eighteen of these cases, by themselves, have caused
investors to lose at least $1 billion. To date, 240
executives have been indicted and 132 convicted.
Remember,
you can help: By calling the FBI Corporate Fraud
Hotline at 888-622-0117. All calls will be kept confidential.
Links: White Collar Crime page | Deputy
Attorney General's "President's Corporate Fraud
Task Force"
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