The former chairman of McKesson Corp. and former CEO of HBO & Co., Charles McCall, has been convicted of securities fraud after a retrial of a $9 billion accounting scandal case dating back a decade.
A federal jury in San Francisco found McCall guilty of four counts of securities fraud and one accounting charge. It acquitted him of one count of falsifying accounting documents.
Prosecutors say McCall fabricated revenue and then tried to cover up a conspiracy to inflate profits before the drug distributor’s 1999 merger with Atlanta-based HBO & Co.
The same jury acquitted the company’s former general counsel, Jay Lapine, of all three charges he faced in the case.
The two men initially stood trial in 2006; that resulted in a hung jury on most counts.