Kenneth Lonchar claimed he had an MBA from Stanford University which was an outright lie. The fact was brought to the attention of Veritas by an undisclosed outside source.
The companies share price were down 19% as investors became worried about the performance of the group after Lonchar’s departure.
But chief executive, Gary Bloom said that the incident was an isolated one and would have no bearing on the groups financial results.
Lonchar is the latest in a long line of chief financial officers and finance directors to be ousted following a mixture of lies and poor results.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements