Ben Dummett, Reporter, The Wall Street Journal

Court Acquits Ex-Nortel Executives of Fraud Charges

January 14, 2013 at 11:59 am PT

A Canadian judge on Monday acquitted three former Nortel Networks Corp. executives of fraud charges, bringing to an end the legal chapter in one of Canada’s biggest corporate collapses.

Frank Dunn, Nortel’s former chief executive, Douglas Beatty, the former chief financial officer, and Michael Gollogly, the former corporate controller, were found not guilty of misstating Nortel’s financial results between 2000 and 2004. Those results entitled them to bonuses worth a total of 12.8 million Canadian dollars ($13 million).

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Tagged with: Ben Dummett, Canada, Douglas Beatty, Frank Dunn, Michael Gollogly, Nortel Networks, telecommunications, The Wall Street Journal

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