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Former Lucent Execs Settle With SEC In $1.1B Fraud

Law360 (December 21, 2005, 12:00 AM EST) -- A federal investigation into communications equipment maker Lucent Technologies Inc. over allegations of accounting fraud worth $1.1 billion has yielded two more settlements from former Lucent employees.

The settlements were confirmed with a final judgment entry in the U.S. District Court for the District of New Jersey, where the Securities and Exchange Commission filed its complaint in May 2004 against Lucent sales executive John Bratten and senior manager Charles Elliott.

The pair has agreed to pay a total of $65,000 in civil penalties for the alleged...
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