USA: Ex-Kmart Execs Face $42m Fraud Charges
Two former executives of cash-strapped retail giant Kmart Corp were on Wednesday charged with a $42.3 million securities fraud following a lengthy probe by federal investigators into the company's accounting history. Authorities charged Enio Montini Jr , former general merchandise manager of Kmart's drug store division, and Joseph Hofmeister, a former merchandising executive in the same division, but did not indict Kmart.
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