Symbol Technology execs on trial for fraud in Central Islip

Three former executives of Symbol Technologies are facing prison time if convicted of fraud in Central Islip. Former chief financial officer Kenneth Jaeggi, senior vice president of finance Michael

News 12 Staff

Jan 5, 2006, 12:08 AM

Updated 6,688 days ago

Share:

Symbol Technology execs on trial for fraud in Central Islip
Three former executives of Symbol Technologies are facing prison time if convicted of fraud in Central Islip.
Former chief financial officer Kenneth Jaeggi, senior vice president of finance Michael DeGennaro and senior vice president and general manager Frank Borghese are accused of inflating financial numbers to paint a better picture for Wall Street investors. Authorities say they made tens of millions of dollars in personal profits.
Lawyers for the defense claim that while the executives clearly made financial information errors, the errors were made accidentally and without criminal intent. The prosecution plans to call several former executives that have pleaded guilty and agreed to testify against their former bosses. If convicted, the three defendants could face 10 to 15 years in prison. The trial is expected to last about six weeks.


More from News 12
1:46
Hero doctor earns Heart Saver Award for saving soccer referee

Hero doctor earns Heart Saver Award for saving soccer referee

1:53
Scattered rain overnight on Long Island; sunny skies Sunday afternoon

Scattered rain overnight on Long Island; sunny skies Sunday afternoon

0:56
Islip Terrace fundraiser to benefit EMT on life support

Islip Terrace fundraiser to benefit EMT on life support

1:37
Manorville search related to Gilgo Beach case continues for fifth day

Manorville search related to Gilgo Beach case continues for fifth day

1:54
Arbor Day Festival at Planting Fields Arboretum marks 38th year

Arbor Day Festival at Planting Fields Arboretum marks 38th year

2:02
'Gains For Brains' girls lacrosse tournament raises awareness, funds for pediatric brain cancer research

'Gains For Brains' girls lacrosse tournament raises awareness, funds for pediatric brain cancer research

Mathew Barzal scores in 2nd OT as Islanders beat Hurricanes 3-2 to avoid series sweep

Mathew Barzal scores in 2nd OT as Islanders beat Hurricanes 3-2 to avoid series sweep

0:33
Delta plane lands at JFK due to emergency slide falling off

Delta plane lands at JFK due to emergency slide falling off

2:28
Doctors are seeing an increase in pickleball-related injuries. Here how to avoid them

Doctors are seeing an increase in pickleball-related injuries. Here how to avoid them

1:56
DEC: Delay in test results on soil, drums found at Bethpage park caused by technical issues at Grumman lab

DEC: Delay in test results on soil, drums found at Bethpage park caused by technical issues at Grumman lab

0:26
Officials: Bag of cocaine found during search of Melville restaurant

Officials: Bag of cocaine found during search of Melville restaurant

1:53
Shop Mother’s Day Gifts – Exclusive Offers Up to 75% OFF!

Shop Mother’s Day Gifts – Exclusive Offers Up to 75% OFF!

1:50
Selden man accused of abandoning dogs in state park

Selden man accused of abandoning dogs in state park

1:33
Disabled Army vet in Kings Park get new backyard with help from volunteers

Disabled Army vet in Kings Park get new backyard with help from volunteers

1:20
Police return to Manorville to continue search in connection to Gilgo Beach case

Police return to Manorville to continue search in connection to Gilgo Beach case

1:56
EXCLUSIVE: Police, K-9 search in North Sea at location of cold case murder

EXCLUSIVE: Police, K-9 search in North Sea at location of cold case murder

0:22
Suffolk County given $5M from federal gov't for construction of new bridge to Fire Island

Suffolk County given $5M from federal gov't for construction of new bridge to Fire Island

0:29
Halal food truck coming to Nassau Community College amid dining issues

Halal food truck coming to Nassau Community College amid dining issues

1:00
The East End: McCall Wines in Cutchogue

The East End: McCall Wines in Cutchogue

1:45
Long Island's largest car show returns to Tobay Beach this weekend

Long Island's largest car show returns to Tobay Beach this weekend