<b>Telcorp in Trouble</b>
The CEO of Telcorp, Howard Ballantine, has been accused of using company money to invest in personal real estate deals. A private committee was hired to investigate Mr. Ballantine's financial activity after Walter Scott, the senior accountant at Telcorp, noticed nearly 2 million dollars was missing from the company\'s primary investment account. Mr. Scott discovered the problem three months ago and reported it to Richard Flint, Telcorp's chief financial advisor. Howard Ballantine denies any wrongdoing, and is hiring his own team of financial officers to investigate the matter, a close friend of Ballantine's said. Telcorp was the nation's leading producer of cell phones until Softphone Inc. opened a factory in China six months ago, which enabled it to save nearly 10 million dollars in production costs. Mr. Ballantine's alleged actions suggest that the company will face more trouble in the future.
