NEC uncovers $18M accounting scandal

By Justin Mann on May 29, 2007, 2:25 PM
NEC is in more financial trouble, with several employees being fingered in an $18 Million scandal involving fake orders. On top of that, kickbacks due to fake orders amounting to much greater than that have also been uncovered, making this yet another in a continual series of financial scandals. It was only a few months ago that NEC was seen falsifying business deals and faced a delisting from the Nasdaq. Not only is the company facing financial setback, their reputation has been marred and they have had many issues with their hardware, such as their mobile phones.

They are still upbeat, but obviously are in trouble. They still face a delisting in the U.S. stock market among other woes.




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