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Canadian Judge Acquits Ex-Nortel Execs Of Accounting Fraud

Law360, New York (January 14, 2013, 7:35 PM EST) -- A Canadian judge on Monday acquitted three former executives of bankrupt Nortel Networks Corp. of charges they manipulated the telecommunications giant's finances from 2000 to 2004 to trigger bonuses for themselves.

Ontario Superior Court Justice Frank Marrocco threw out criminal fraud charges against former Nortel CEO Frank Dunn, former CFO Douglas Beatty and former corporate controller Michael Gollogly, saying Canadian prosecutors hadn't met the high bar to find them guilty.

"I am not satisfied beyond a reasonable doubt that Frank A. Dunn, Douglas C. Beatty and...
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