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Canada

Former Nortel Execs Await Corporate Fraud Ruling 59

An anonymous reader writes "Three former Nortel executives accused of orchestrating a widespread multimillion-dollar fraud will learn their fate in Toronto on Monday, nearly a year after one of the largest criminal trials in Canada's corporate history began. Ontario Superior Court Justice Frank Marrocco is set to rule on whether ex-CEO Frank Dunn, ex-CFO Douglas Beatty and ex-controller Michael Gollogly manipulated financial statements at Nortel Networks Corp., between 2002-2003. The men, who each face two counts of fraud, are accused of participating in a book-cooking scheme designed to trigger $12.8 million in bonuses and stocks for themselves at the once powerful Canadian technology giant."

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