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Sunday, July 1, 2001
Volume:
17
Issue:
7
287
Abstract:
On May 27, 2001, a U.S. Marshall spokesman announced that Gaston Bastiaens, a former chief executive of Belgium’s Lernout & Hauspie Speech Products NV, was being held in a Boston jail after U.S. authorities arrested him on a Belgian warrant that accuses him of fraud and other charges.
A Belgian warrant charges Bastiaens, 54, with financial fraud, insider dealing, stock market manipulation, violating bookkeeping laws and swindling.
Last year accounting and fraud allegations caused L&H stock to plunge, erasing nearly $10 billion in shareholder value…[more]