Gayle Spence Luacaw

Manchester, NH: (May-15-07) The US Securities and Exchange Commission filed charges on Gayle Spence Luacaw, a former Enterasys vice president, accusing her of being involved in a conspiracy in connection with an Enterasys contract with Ariel International Technology Co. Ltd. and a deal involving SAP AG, a German computer company. Luacaw, 48, pleaded guilty to the single federal charge of conspiracy and will be sentenced on July 20th in US District Court in Concord. Luacaw was also a cooperating witness in the criminal trial of five former Enterasys executives last fall in an alleged scheme to inflate revenues at the then publicly traded company from March 2000 through December 2001. In a settlement reached, Luacaw agreed disgorge, or pay back, $264,261.50, plus interest to the SEC. The SEC agreement calls for Luacaw to pay an additional $74,449.50 in prejudgment interest, bringing her total payments to $338,711. [UNION LEADER: GAYLE SPENCE LUACAW]

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Published on May-15-07