// BEGIN editorial data
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HighProfileScandals.ID = "HighProfileScandals";
HighProfileScandals.ID_WB = 4459566;
HighProfileScandals.sPubDate = "4/20/2007 12:01:39 AM GMT";
HighProfileScandals.navsectionID = "3032071"
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HighProfileScandals.appHeader = "FACT FILE| High-profile corporate scandals";
HighProfileScandals.appFooter = "Source: The Associated Press, MSNBC research";
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HighProfileScandals.appLayout = 3;
HighProfileScandals.copyHeight = 230;
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HighProfileScandals[i++] = new Array("","Adelphia Communications Corp.","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
HighProfileScandals[i-1].body = "Founder John Rigas and his son Timothy were convicted in 2004 on federal charges of conspiracy, bank fraud and securities fraud. John Rigas was sentenced to 15 years in prison and his son was sentenced to 20 years. Six Rigas family members have agreed to forfeit assets worth more than $1.2 billion to settle cases brought by federal regulators. Adelphia has been sold for more than $17 billion to Time Warner Inc. and Comcast Corp.";
HighProfileScandals[i++] = new Array("","Credit Suisse First Boston","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
HighProfileScandals[i-1].body = "An appeals court overturned the 2004 conviction of former investment banking star Frank Quattrone on federal charges of obstruction of justice. His first trial ended in a hung jury. Prosecutors have not announced a decision on whether they will seek a third trial.";
HighProfileScandals[i++] = new Array("","Enron Corp.","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
HighProfileScandals[i-1].body = "Enron Corp. founder Lay and former CEO Skilling were convicted in May 2006 of conspiracy to commit securities and wire fraud. Former chief accounting officer Richard Causey pleaded guilty Dec. 28 to securities fraud and agreed to help federal prosecutors' case against former bosses Kenneth Lay and Jeffrey Skilling. Finance chief Andrew Fastow pleaded guilty in January 2004 on conspiracy charges and faces 10 years in prison in a deal in which he agreed to testify against his former co-workers. Former treasurer Ben Glisan pleaded guilty in 2003 and is serving five years in prison. ";
HighProfileScandals[i++] = new Array("","HealthSouth Corp.","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
HighProfileScandals[i-1].body = "Jurors acquitted HealthSouth Corp. founder and fired chief executive Richard Scrushy on all charges in a $2.7 billion earnings overstatement at the rehabilitation and medical services chain.Scrushy had been charged with fraud, false corporate reporting and making false statements to regulators. He was the first CEO charged under the Sarbanes-Oxley corporate reporting law.
Scrushy, who still faces civil charges, blamed the massive accounting scheme on subordinates and has sued HealthSouth for $70 million, saying he was wrongly fired.
In all, 15 former HealthSouth executives have pleaded guilty since 2003, when the scandal erupted publicly and drove the company to the brink of bankruptcy.";
HighProfileScandals[i++] = new Array("","Martha Stewart Living Omnimedia","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
HighProfileScandals[i-1].body = "The founder of the homemaking empire was released from prison in March 2005 after serving a five-month term. She served an additional five months of home confinement.
She was convicted on federal charges of conspiracy, obstruction of justice and making false statements related to a personal sale of ImClone Systems Inc. stock. Her former broker at Merrill Lynch, Peter Bacanovic, also was sentenced to five months in prison.";
HighProfileScandals[i++] = new Array("","Qwest Communications International Inc.","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
HighProfileScandals[i-1].body = "Former Chief Executive Joseph Nacchio was convicted April 19, 2007, on 19 of 42 insider-trading counts he faced. Each count carries a penalty of up to 10 years in prison and a $1 million fine.
Nacchio, 57, was accused of improperly selling about $101 million worth of stock in 2001. Qwest soon after became mired in an accounting scandal and was forced to restate $2.2 billion in revenue. Nacchio resigned under pressure in 2002.";
HighProfileScandals[i++] = new Array("","Tyco Corp.","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
HighProfileScandals[i-1].body = "Former Chief Executive L. Dennis Kozlowski and Chief Financial Officer Mark H. Swartz were convicted on 22 of 23 counts of grand larceny, conspiracy, securities fraud and falsifying business records. Prosecutors accused the two of conspiring to defraud Tyco of millions of dollars to fund extravagant lifestyles. The two executives were given sentences of eight to 25 years in prison and have begun serving out their terms.";
HighProfileScandals[i++] = new Array("","WorldCom Inc.","","","","", "", "", "", "", "", "", "", "", "", "", "", "", "", "");
HighProfileScandals[i-1].body = "Former CEO Bernard Ebbers was convicted in March of federal fraud and conspiracy charges for his part in a massive accounting fraud now estimated at $11 billion. He was sentenced to 25 years in prison.
The company's former finance chief Scott Sullivan was sentenced to five years in prison.";
// END editorial data