Word: monus
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Phar-Mor, the largest and fastest-growing U.S. deep discount drugstore chain -- with 306 stores in 33 states -- sought bankruptcy court protection after firing president Michael Monus and chief financial officer Patrick Finn and taking a $350 million write-off. The company claimed that Monus and Finn embezzled $10 million and overstated profits, then sued its accountants, Coopers & Lybrand, for failing to spot the fraud. Coopers countersued, accusing Phar-Mor executives of providing false and misleading figures to audit...
...scrappy co-founder and president of Phar-Mor, the largest U.S. deep- discount drugstore chain, Michael Monus was known for his love of sports and for expanding the firm at a breakneck pace. But most of the profits the Ohio-based company (sales: $3.14 billion) reported for the past three years were apparently phony...
Phar-Mor said Monus, 44, and chief financial officer Patrick Finn, 34, both fired two weeks ago, funneled about $10 million of company funds into the struggling World Basketball League, which folded Aug. 1. The firm says the two men participated in a scheme to cook the company's books, forcing it to write off $350 million -- including the allegedly stolen funds and $340 million in overstated profits. The privately held concern has dismissed auditor Coopers & Lybrand, which it blamed for failing to spot the fraud. The accounting firm says Phar-Mor's move was "apparently designed to posture, bluster...
Following is the cast of characters: PROLOGUE. Mile, Beauval, E. R. Riegel '08 M. Dancourt, F. Dexter '08 Mile, Berhosser, D. M. Martin '07 Mindu Bocage, D. L. Foote '08 Monus, (undecided) Un Machiniste, E. Eversole '07 LES POLARS AMOUREUSES. Albert, W. M. Shohl '06 Eraste, F. Dexter '08 Crispin, G. L. Foote '08 Agathe, E. R. Riegel '08 Lisette, D. M. Martin '07 DIVERDISSEMENT. Clitandre, (undecided) Agathe, G. A. Schneider '07 Lisette, D. M. Martin '07 La Folie, E. R. Riegel '08 Crispin, G. L., Feote '08 Le Carnavel, (undecided) Eraste, F. Dexter '08 Albert, W. M. Shohl...
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