Nortel Networks has fired the three senior officials charged with fraud in 2004, according to the Royal Canadian Mountain Police.

Nortel's former CEO Frank Dunn, former CFO Douglas Beatty and former controller Michael Gollogly were allegedly involved in a big accounting scandal involving overstating the company’s financial results in 2002 and 2003.

Earlier, the US Securities and Exchange Commission (SEC) also charged these three men in a civil fraud suit. The SEC alleged them of manipulating the company’s earnings between 2000 and 2004. In 2005, the company confirmed that revenue had been overstated by $3.4 billion, and went on to restate its revenue again from 2001. Dunn, Beatty, and Gollogly have also been sued over bonuses paid them in 2003.

The Royal Canadian Mounted Police has been investigating the case. X

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Reuters