Ex-Vitesse Execs Cop Pleas To Evidence Tampering

Law360, New York (August 15, 2013, 6:44 PM EDT) -- Two former Vitesse Semiconductor Corp. executives accused of accounting fraud to conceal a revenue slump pled guilty Thursday to a lesser charge of conspiring to tamper with records.

Former Vitesse CEO Louis Tomasetta and Eugene Hovanec, Vitesse’s former chief financial officer, admitted they altered computer records to try to thwart an expected investigation from the U.S. Securities and Exchange Commission. The two entered their pleas at a hearing before U.S. District Judge Jed S. Rakoff in Manhattan federal court.

Under the plea bargain, prosecutors dropped more...
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