Discussion continues around future impact of Nortel
A January court ruling that found three former Nortel Networks Corp. executives not guilty of fraud is likely to have an impact on similar cases in the future, Toronto forensic accountant Patricia Harris says in The Bottom Line. Read The Bottom Line
“I think this trial decision sends a strong message that any future management earnings cases will be very difficult to prosecute in a criminal context, particularly without corroborating activity such as, for example, two sets of books, or a CEO’s specific instructions to deceive, (or) nefarious types of activities like offshore wire transfers,” Harris says in the article, which examines the future implications of Ontario’s Superior Court Justice Frank Marrocco’s decision in the lengthy Nortel Networks trial.
