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www.oakvillebeaver.com The Oakville Beaver, Friday June 20, 2008 - 5 RCMP began Nortel investigation in 2004 Continued from page 1 Each member of the trio faces seven fraudrelated charges. In a statement issued shortly after the charges were announced, Nortel, North America's biggest maker of telephone equipment, said it was not the target and that the charged executives were dismissed for cause in 2004. In October 2007, Nortel paid $35 million to settle civil charges filed by the U.S. Securities and Exchange Commission (SEC) related to the fraud. The regulator had alleged Nortel's schemes let it meet "unrealistic" revenue and earnings forecasts it had provided to Wall Street. The SEC had also charged Dunn and Beatty with directing parts of the fraud. The accounting scandal that hit Torontobased Nortel earlier this decade was one of the major hurdles it faced in its turnaround efforts after the tech bubble burst in 2001, and was a big part of the firm's fall from grace as a stock market darling. It also forced the company to restate its results a number of times, shaking investors' faith in its prospects and triggering a bevy of investigations. The police said they received co-operation from the U.S. Federal Bureau of Investigation, U.S. and Ontario securities regulators, and Nortel itself. The investigation has been a lengthy one: the RCMP became involved in the case as early as May 2004 and confirmed a criminal probe three months later. In February of this year, a media report emerged that the charges against the former executives were imminent. The RCMP had faced criticism that its investigation was dragging on for years without any charges being laid. In a statement on Thursday, it acknowledged such probes are lengthy and complex. "Investigations like this require the cooperation and support of many agencies domestically and internationally," stated Officer in Charge of the RCMP Greater Toronto Area IMET, Kevin Harrison. "It is through partnerships, which leverage expertise at the local, national and international levels that police are able to complete investigations with this kind of complexity and scope. The co-operation received from the Ontario Securities Commission, the Dallas Field Office of the Federal Bureau of Investigation, the United States Securities and Exchange Commission, and Nortel Networks itself, enhanced the ability of the RCMP GTA IMET to advance the investigation." -- With files from Torstar News Service. KENNEDY FORD OAKVILLE'S ORIGINAL 2009 FLEX DEALER L PER GAL O N NOW HERE! ES 41 IL M 2008 FORD FUSION SE · sport package · moonroof · spoiler · alloy wheels · power group · stock #FN5532 Purchase Price $ OR Lease For 20,622 $ 257 $0 Downpayment /mth ES 50 · automatic · air conditioning · 4 cylinder · am/fm/cd · stock #FS5901 ES OR Lease For L PER GAL O N ES L PER GAL O N 2008 ESCAPE XLT $ OR 25,094 $ 349 ES L PER GAL O N QEW @ DORVAL OAKVILLE 905.845.1646 Cash prices exclusive of freight and air tax, Focus $1150, Escape/Fusion/Edge $1250. 48 month lease 20000km per year, excess km charge is 12 cents per km. Fuel econonmy based upon 2008 Transport Canada Fuel Guide. Dealer admin, taxes, lic fee, ppsa due at delivery. Delivery Allowances applied to prices. Edge payment requires $3628 downpayment or equivilant trade. See Dealer for Details QEW WYECROFT www.kennedyford.ca DORVAL DR. VAL IL M IL M L PER GAL O N 2008 FORD FOCUS Purchase Price $ 14,753 $ 207 $0 Downpayment /mth 34 IL M 2008 FORD EDGE · 17" wheels · reverse senory · roof rails ille! ilt In Oakv Bu Purchase Price $ · V6 power · keyless entry pad · stock #EG5875 OR Lease For 32,844 $ 399 /mth 32 50 IL M 2008 ESCAPE HYBRID $ 33,834