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Global

Two ex-Duane Reade top executives indicted


    NEW YORK (Reuters) - Indictments were unsealed on Thursday charging two former top executives of Duane Reade Holdings Inc of falsely reducing reported company expenses and inflating income, the office of the U.S. Attorney for the Southern District of New York said.

    It said in a news release that former Chief Executive Officer Anthony Cuti was also charged with making false filings with the U.S. Securities and Exchange Commission. It said from December 2000 through June 2005, Cuti and former Chief Financial Officer William Tennant "engaged in a scheme to misrepresent Duane Reade's financial performance" to investors.

    (Reporting by Grant McCool, editing by Gerald E. McCormick)