Retrial Begins For Ex-Vitesse Execs Accused Of Fraud

Law360, New York (January 22, 2013, 5:55 PM EST) -- Two former top executives at Vitesse Semiconductor Corp. engaged in a criminal conspiracy to cook the semiconductor company's books, prosecutors said Tuesday, opening a retrial in a case that hung a jury in April.

Former Vitesse CEO Louis Tomasetta and former Chief Financial Officer Eugene Hovanec made a secret deal with a distributor that allowed the California-based company to book sales on products they knew would be returned, Assistant U.S. Attorney David Miller told jurors in Manhattan federal court.

The trial is the second attempt prosecutors...
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