Accounting fraud admission wipes £5.5b off BT's valuation
by Cory Doctorow from on (#2A1S4)
The former UK national phone company BT announced that it's writing down the value of its Italian operation by 530m because it has been committing accounting fraud for years, triggering a mass sell-off of its shares, wiping 5.5b off the company's valuation. (more")