FORMER KMART EXECS INDICTED

DETROIT -- Two former Kmart vice presidents were indicted here last week for their alleged role in a $42 million accounting misstatement that contributed to the chain's escalating financial problems.Enio Montini Jr., 51, and Joseph Hofmeister, 52, were charged with securities fraud, making false statements to the Securities and Exchange Commission, and conspiracy, according to the three-count indictment

DETROIT -- Two former Kmart vice presidents were indicted here last week for their alleged role in a $42 million accounting misstatement that contributed to the chain's escalating financial problems.

Enio Montini Jr., 51, and Joseph Hofmeister, 52, were charged with securities fraud, making false statements to the Securities and Exchange Commission, and conspiracy, according to the three-count indictment unsealed by the U.S. Attorney's office here. Both are Michigan residents.

Register to view the full article