France’s Commission des Operations de Bourse regulator is recommending that legal action be taken against the corporate officers of the now-defunct SMT-Goupil SA after an investigation into the micromaker’s figures for the past 30 months show that the company artificially and heavily inflated its sales figures by including non-existent orders from the Economics Ministry, the Bank of France and France Telecom: it says that the phantom sales totalled $35m; the company was put into liquidation with debts of $122.5m, after making a 1990 loss of over $70m on tunover of $145m – down 31% from the 1989 figure.
