Ex-Vitesse Semiconductor Execs Charged With Fraud

Law360, New York (December 11, 2010, 1:53 PM EST) -- The U.S. government has charged two former Vitesse Semiconductor Corp. executives with accounting and securities fraud for allegedly cooking up an elaborate plot to inflate the company's revenues and falsifying financial statements to dupe auditors and the U.S. Securities and Exchange Commission.

An indictment unsealed Friday in the U.S. District Court for the Southern District of New York charged former Vitesse CEO Louis Tomasetta and former Executive Vice President Eugene Hovanec with making false entries in the books and records of a corporation and submitting false...
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