Ex-Peregrine Counsel Pleads Guilty In Fraud Scandal

Law360, New York (January 9, 2009, 12:00 AM EST) -- As his case was heading to trial, a former general counsel at Peregrine Systems Inc. has pled guilty to having a hand in the accounting scandal that plunged the Silicon Valley software company into bankruptcy.

Richard Thomas Nelson pled guilty Thursday to bank fraud in the U.S. District Court for the Southern District of California. He admitted to helping win a $150 million line of credit for the software company using false financial statements.

Judge Thomas J. Whelan scheduled Nelson's sentencing for April 20. A March...
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