Beverly Hills 11/20/2009 5:23:18 AM
News / Business

Former Chairman of McKesson Corp. Convicted of Securities Fraud

Finance World News Update by EQUITIES Magazine

After a retrial of the decade-long $9 billion accounting scandal case, former chairman of McKesson Corp Charles McCall was found guilty of four counts of securities fraud and one accounting charge. He was acquitted of one count of falsifying accounting documents.

 

According to prosecutors, McCall fabricated revenue and then tried to hide a conspiracy to inflate profits before the drug distributor’s 1999 merger with Atlanta-based HBO & Co.

 

McCall stood trial with the company’s former general counsel, Jap Lapine, who was acquitted of all three charges he faced in the case.

 

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Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

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