----- Original Message -----
From: "john R vaughn" <[log in to unmask]>
To: <[log in to unmask]>
Sent: Friday, April 27, 2001 7:50 PM
Subject: Lernout & Hauspie Co-Founders Arrested on Fraud


 The latest on L and H. John
 Lernout & Hauspie Co-Founders Arrested on Fraud Charges in Belgium

 im/djn_toplogo

 04-27-01  06:19 AM EST  | Associated Press

 IEPER, Belgium -- Investigators have charged the co-founders of Lernout
&
 Hauspie Speech Products NV with fraud, a prosecutor said Friday.

 Jo Lernout and Pol Hauspie were brought in for questioning Thursday
Morning by a judge investigating accusations of fraud. They were charged
Thursday night with falsification and stock manipulation and ordered
held pending a court appearance Monday, prosecutor Jean-Marie Coppens
said.

The same charges were filed Friday against fellow former board member
Nico  Willaert, who was also being detained pending the court
appearance, at which
a judge will decide whether the three should remain in custody or be
released pending trial, Coppens said.

The co-founders had already been sidelined for several months after a
slew of accounting scandals and fraud allegations sent the stock
crashing late last year and forced the firm to seek bankruptcy
protection in Belgium, the U.S. and South Korea.

At the extraordinary shareholders meeting ordered by a bankruptcy judge,
new
CEO Philippe Bodson said Mr. Lernout and Mr. Hauspie's personal legal
troubles
"will not have an impact" on the gathering.

He also declined to comment on reports of the company's imminent
disintegration.

The Wall Street Journal, citing unidentified sources, reported Friday
that the new management has asked investment bank Credit Suisse First
Boston Corp.to explore selling most of the remaining assets to repay
more than $600 million in debts.



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