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RCMP to File Charges Against Beatty, Gollogly
By Mark Evans | February 23, 2008
Nearly four years after two Nortel senior executives were fired for cause, the Royal Canadian Mounted Police (RCMP) is poised to charge Doug Beatty and Michael Gollogly with criminal fraud amid allegations they cooked the company’s books to trigger a lucrative bonus plan.
Citing sources, the National Post is reporting that the RCMP notified Beatty, Nortel’s ex-CFO, and Gollogly, its ex-controller, of “imminent” criminal charges being filed against them. The investigation leading to the charges is apparently focused on the financial results from the fourth-quarter of 2002 to the first two quarters of 2003.
More: The National Post also has a timeline of Nortel’s accounting scandal.
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