Dell Defrauded In Japan

[Mulboyne]

CRN: Dell Re-states Earnings, Reveals More Fraud Details
Dell on Tuesday filed past-due financial reports with the U.S. Securities and Exchange Commission, restating past financial reports and acknowledging more evidence of mistakes and misconduct -- including fraud involving in account with an integrator in Japan..."The cumulative change to net income for the restatement period was a reduction of $92 million..." a Dell spokesman said..."In late January 2007, a Japanese systems integrator with whom Dell's Japanese services division did business, filed for bankruptcy. The bankruptcy trustee publicly indicated that the systems integrator had engaged in fictitious transactions," Dell reported in its filing with the SEC. "Dell promptly commenced an internal investigation led by Dell's Ethics Office to determine whether its Japanese business unit had engaged in any fictitious transactions with the systems integrator...The investigation determined that almost all of the transactions of the Japan services business involving the systems integrator were likely fabricated"...more...