Daily Almanac for

Feb 15, 2012

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Garth Drabinsky,

48, and Myron Gottlieb, 55, founders of the Toronto-based theatrical production company Livent, Inc., were indicted by a New York City federal grand jury on 16 counts of criminal fraud and conspiracy. The U.S. alleged that the partners, who produced such Broadway extravaganzas as Showboat and Ragtime, led an eight-year scheme to fake earnings or hide financial losses and siphon off some $4.6 million. In a separate civil complaint, the SEC charged the two with securities fraud. Drabinsky denied the charges and blamed the company's "new management" for the imbroglio.

Information Please® Database, © 2007 Pearson Education, Inc. All rights reserved.

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