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The Senate Talks About the Thompson Memo
The Senate Committee on the Judiciary has scheduled a hearing on "The Thompson Memorandum’s Effect on the Right to Counsel in Corporate Investigations" for today. The impressive lineup of individual’s giving testimony are: PANEL I The Honorable Paul J. McNulty Deputy Attorney General U.S. Department of Justice Washington, DC PANEL II The Honorable Edwin Meese…
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Accounting Investigation of Dell Gets a Lot More Serious
It is a tough time for leading computer companies, with the government investigation of Hewlett-Packard’s use of possibly illegal methods to gather private information about its board members and now Dell’s disclosure that it will not be able to file its financial statements due to continuing accounting problems. Dell disclosed in August (8-K here) that…
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Look Who’s Knocking on H-P’s Door
It is no great surprise (see earlier post here) that the U.S. Attorney’s Office for the Northern District of California has taken an interest in the conduct of the internal investigation into boardroom leaks at Hewlett-Packard that included "pretexting" to gain private information about directors and newspaper reporters. In a 10-Q (here), the company disclosed…
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Government Appeals Sentence of Former Wal-Mart Executive
The U.S. Attorney’s Office for the Western District of Arkansas announced that it will appeal the sentence given to former Wal-Mart senior executive Tom Coughlin for defrauding the company by submitting fake invoices. While the Federal Sentencing Guidelines called for a sentence in the 24-30 month range, U.S. District Judge Robert Dawson sentenced Coughlin to…
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Payer of Bribe to Louisiana Congressman Sentenced to 87-Month Prison Term
Kentucky businessman Vernon Jackson, former CEO of telecommunications company iGate Inc., received an 87-month prison term after pleading guilty to two counts of conspiracy and bribery. According to the criminal information (press release here) filed in the case: Representative A told Jackson that Representative A would not continue to provide official assistance to Jackson’s company…
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Who Wants to Sponsor DOJ’s Bill to Preserve Lay’s Conviction
As discussed in an earlier post (here), the Department of Justice has sent a proposed bill to Congress seeking to avoid the effect of the abatement doctrine that would otherwise remove the indictment and conviction of Ken Lay from the record because he died before his first appeal was completed. If adopted, and assuming it…
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Stolt-Nielsen Indicted for Antitrust Violation
After a two-year battle to keep from being charged, parcel tanker shipping company Stolt-Nielsen S.A. and two of its subsidiaries were indicted for antitrust violations, along with two individuals. The case has been closely watched because this is the first time the Department of Justice has indicted a company that had taken advantage of the…
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Who Better to Teach Accounting 101
Former Texas Southern University president Priscilla Slade will not be permitted to teach accounting courses this term due to the pending criminal charges against her arising from alleged misuse of University funds for her personal expenses. Slade was fired as president earlier in 2006 because of the alleged financial improprieties, but she retained her tenured…
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What’s Next for Hewlett-Packard
In just a few short days, Hewlett-Packard Co. has gone from newly-christened market darling to the focus of intensifying state and federal investigations spawned by the company’s disclosure of an internal investigation of leaks that included "pretexting" to obtain private records of board members. Oddly enough, the details of the investigation were first revealed by…
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Guilty Plea for Multimillion Dollar Tax Evasion
Walter Anderson has been in jail since his indictment in 2005 for failing to pay what the government alleged were taxes on hundreds of millions of dollars he made on investments in the telecommunications industry. As discussed in an AP story (here), Anderson entered a guilty plea to two tax evasion charges and one count…
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