NEW YORK — A $42 million accounting misstatement in 2001 contributed to Kmart Corp.’s escalating financial problems and led to the indictment in Detroit Wednesday of two of its former vice presidents.
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 in Detroit. Both are Michigan residents.
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