Tuesday, December 13, 2005

Diebold CEO Resigns:Insider Trading & Fraud?

RAWStory: "The board of directors and Wally O'Dell mutually agreed that his decision to resign at this time for personal reasons was in the best interest of all parties," the company's new chairman said in a statement. O'Dell's resignation comes just days after reports from BradBlog that the company was facing imminent securities fraud litigation surrounding charges of insider trading. It also comes on the heels of a RAWStory interview w/ a Diebold insider, who raised new allegations of technical woes inside the company, as well concern that Diebold may have mishandled elections in GA and OH." BradBlog says: "As we reported late last wk, the filing of a securities fraud class action litigation against the company, O'Dell and other current and former members of their Board of Dirs is now imminent. We have learned that the case may be filed in Ohio Fedrl District court as early as Tues. In the wake of the controversy concerning O'Dell's involvement w/the Bush/Cheney campaign, a corporate policy was instituted to disallow involvement in political campaign by sr executives at the company. A report in the Cleveland Plain-Dealer late last wk, however, revealed that several Diebold executives had continued to donate to GOP campaigns even after the policy was enacted. The new CEO, Swidarski appears to have given the maximum allowable $2000 contribution himself to Bush/Cheney's campign in '04." If you ever needed any more proof of the heavy Diebold contributions to GOP coffers, please check this list here and this "says it all" on soft money graphic here. Let's face facts: O'Dell commits fraud. That's his MO. Since we don't have any law enforcement willing to look into electoral fraud, he gets busted for securities fraud. B/c, you see, rich and powerful people can get hurt by securities fraud. It's only the poor and middle class who get hurt by electoral fraud.
Posted by Tina :: 12:22 AM :: 2 Comments:

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