Chrysler To Cut 13,000 Jobs In Overhaul All or part of four North American plants will be closed, and its parent company did not rule out selling the unit.... Read Full Article Baugur Builds £430m War-chest For Acquisitions Baugur has sold its media and technology interests alongside its financial investments for £430 million in two separate deals that will hand the Icelandic investment giant a “war-ches... Read Full Article Four Parents Die Trying To Save Children Three British parents drowned as they attempted to rescue their children when they became trapped in strong currents off a Portuguese beach yesterday afternoon.... Read Full Article How Man’s Best Friend Becomes Birds’ Worst Enemy On That Walk Walkies, the seemingly innocuous duty of exercising the dog, has been identified as a huge threat to wildlife.... Read Full Article World Business Briefing: Finland: Nokia Earnings Fell Nearly 7% Nokia, the world’s largest mobile phone maker, said that its first-quarter earnings dropped nearly 7 percent as expanding sales of low-end models in emerging markets pushed down its average selling pr... Read Full Article |
$100,000 Settles Claim Of FraudWASHINGTON, Jan. 9 (AP) — The former controller at U.S. Foodservice, a unit of the Dutch supermarket operator Royal Ahold, has agreed to pay a $100,000 civil penalty to settle accusations that she participated in a fraud that overstated income by $700 million in fiscal 2001 and 2002, the Securities and Exchange Commission says. Blog The CaucusKate Phillips and The Times’s politics staff report on the latest political news from around the nation. More Politics NewsSuzanne Brown, 40, also accepted a five-year ban on serving as an officer of a public company, the S.E.C. said late Monday. She neither admitted nor denied wrongdoing. The S.E.C. said Ms. Brown, at the instruction of supervisors, directed that overstated “promotional allowances” be recorded in the company’s books. The allowances are payments that food manufacturers make to distributors that choose which brands to stock in their warehouses. The actions of Ms. Brown and other U.S. Foodservice managers made it falsely appear that the food distribution unit had met its annual operating targets, thus enabling them to receive significant bonuses for fiscal 2002, the S.E.C. said. Ms. Brown’s primary supervisor, Michael J. Resnick, the former chief financial officer, was sentenced in December to six months of home detention and three years’ probation in a separate criminal case. He pleaded guilty to a count of conspiracy in September 2006. Tag CloudExternal InformationAdditional InformationWorld Bank calls on oil producers to cut $50bn gas fire...World Business Briefing: Germany: Shoemaker’s Sales Fall... New Line’s 40 Years of Reaching Brows High and Low... SRM seeks to block Countrywide takeover... Where Am I?News Main Page - Business - $100,000 Settles Claim Of Fraud |
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