Thursday, October 07, 2004
11 indicted in fraud at Peregrine
SD Union Tribune: A federal grand jury has indicted 11 people for their alleged roles in a massive accounting fraud and attempted cover-up at Peregrine Systems, the San Diego business-software developer. The indictment released yesterday follows a federal investigation that began in May 2002, when the scheme began to unravel. The ensuing financial collapse cost shareholders roughly $4 billion and nearly led to the company's demise.