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The Boston Globe


Ontario court acquits 3 former Nortel executives

OTTAWA, Ontario — An Ontario court acquitted three former senior executives of the failed Nortel Networks on Monday in a complex and protracted fraud case.

Prosecutors had charged that the three — former chief executive Frank A. Dunn, onetime chief financial officer Douglas C. Beatty, and former controller Michael J. Gollogly — improperly manipulated cash reserves at Nortel to create profitable quarterly results that triggered substantial bonus payments.

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