Trial on fraud charges set to begin for three former Nortel execs
Posted January 8, 2012 7:31 am.
This article is more than 5 years old.
TORONTO, Ont. – The larger they are, the harder they fall. You could argue that was the case for former telecommunications giant Nortel.
It was once one of Canada’s largest companies, with more than 90,000 employees around the world, before it all fell apart.
Now, almost four years after charges were laid, the trial of three former executives is about to start.
Once Canada’s most watched stock, this week pre-trial motions will begin as three former Nortel executives face fraud charges.
Police allege they fraudulently misstated the financial results of Nortel and were behind an elaborate accounting fraud hiding the company’s falling sales after the tech-bubble burst in the spring of 2000.
Among those charged include Nortel’s former chief executive officer Frank Dunn.
Pre-trial motions begin on Thursday, with the trial set to start the following week.
