Maybe they ought to just go for the physical challenge at this point?

Details on the (second) Peregrine mistrial right here.



-- MDT

Labels: backdating, mistrial, Peregrine Systems

Gary Lenz has come to terms with prosecutors on the 32 counts of conspiracy and fraud that he faced, based on his 19 months as an executive an Peregrine Systems. Lenz had already been through one mistrial, with his new court date set for January 29th. No word as of this morning on what his deal entails.

-- MDT

Labels: Gary Lenz, Peregrine Systems, plea agreement

Hey there Daily Caveat readers...it feels good to get back on here and post a few things while baby and mom are napping. Thanks to everyone who sent along well wishes as well as articles and things to keep me in the loop. So, what did I miss while in the land of vomit and diapers? For starters, a few things:

• Greece practices hedge fiend catch and release program with fugitive Angelo Haligiannis.

• The Bank of Montreal opens up about their ongoing natural gas trading investigation.

• Munich-based Siemens prosecutors met yesterday with their counterparts at the SEC.

• Trial of former manager, Kourosh Partow, gives window into blind-eye culture at Countrywide Financial.

• Three of four defendants in Peregrine Systems fraud case will be retried after jury deadlock.

• Reuters debates the mixed legacy of class action king and soon-to-be retiree, Bill Lerach.

Now, back to the diapers...

-- MDT

Labels: Angelo Haligiannis, Bank of Montreal, Bill Lerach, Countrywide, Kourosh Partow, Peregrine Systems, Siemens

We're four weeks into the trial of several Peregrine Systems executives in a case that has been called San Diego's Enron. Another separate trial is still to come, arising from the rampant internal fraud that first came to light at Peregrine in 2002.

Back in March Peregrine CEO, Stephen Parker Gardner plead guilty to charges of conspiracy, securities fraud and obstruction of justice. Eight other company execs preceded him in January '07. There was also the Peregrine related extradition of the unfortunately named Jeremy Crook back in September '06.

In more recent news Peregrine's former General Counsel was just indicted last month and will face charges similar to his former bed-fellows: securities and wire fraud, bank fraud and conspiracy to commit fraud.

And the beat goes on...

For up-to-date details on the Peregrine trial, click here.

-- MDT

Labels: accounting fraud, corporate scandal, Peregrine Systems

Stephen Parker Gardner, former CEO of Peregrine Systems has plead guilty to conspiracy, securities fraud and obstruction of justice. The charges arose in relation to a 2004 indictment charging Gardner and several other Peregrine execs with accounting fraud, specifically backdating contracts and improperly recognizing revenue. Further details on the Gardner plea via the LA Times.

-- MDT

Labels: accounting fraud, guilty, Peregrine Systems, Stephen Park Gardner

Michael Danny Whitt makes eight Peregrine Systems execs who've plead guilty in relation to the accounting fraud that afflicted the one-time jewel fo the San Diego-area software industry. Peregrine first acknowledged its problems back in 2002 and before the year was out the troubled firm was on the road to bankruptcy. Its remnants were purchased by Hewlett Packard. In case you are keeping score the other seven guilty pleas in the Peregrine case belong to:

Douglas Stephen Powanda

Ilse Cappel

Jeremy Crook

Steve Spitzer

John Burnham Benjamin

Richard T. Nelson

Matthew Gless

Several other Peregrine execs (some big fish among them) have plead NOT guilty, but you can look those up y'selves!

-- MDT

Labels: Fraud, Jeremy Crook, Peregrine Systems, SEC

Jeremy Crook, late of Peregrine Systems and currently facing trial in San Diego after being extradited to the U.S. to answer for fraud charges relating to Peregrine's collapse, put up the $250,000 necessary for his bond but found himself back in jail soon after.

The reason? His illegal alient status. While it is unclear who tipped off the I.N.S. *wink*, Crook was barely able to savor his brief taste of freedom before being excorted back to a cell as an illegal alien... Crazy times we live in. More here.

And in vacation news, I got to pet a kangaroo today at the ridiculously cool Singapore Zoo.

Tonight - fireworks!

Tomorrow, a jungle tour.

Currently...tea and bisquits and the internet.

-- MDT

Labels: Peregrine Systems

The recent extradition and pending trial of the NatWest three in Texas brought significant attention to an agreement recently signed between the U.S. and U.K. governments. The purpose of the treaty is, ostensibly, to speed the transfer of terror suspects between the two nations, thus its employ in pursuit of white collar criminals has been somewhat controversial.

Another British businessman has joined the list of those extradited to the U.S. to face charges in U.S. courts, the unfortunately named Jeremy Crook. Crook is a former V.P. with Peregrine Systems, which imploded in a major fraud scandal backin 2001. Crook has reported to San Diegofor the Peregrine fraud trial and his ultimate fate is as yet unknown.

More on Crook's case, here.

-- MDT

Labels: Enron, NatWest Three, Peregrine Systems