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HPL Boss Pleads Guilty to Wire Fraud

November 8, 2002

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SAN FRANCISCO (AP) _ The former president and chief executive of software maker HPL Technologies has pleaded guilty to wire fraud for his part in a scam that allegedly falsified more than $28 million in sales, the U.S. Attorney’s office announced.

Yervant Lepejian, 41, of San Jose, Calif. pleaded guilty to a single count of wire fraud and admitted taking part in the scheme to defraud HPL Technologies shareholders by booking ``false and illusory sales to be recorded as revenue,″ the U.S. Attorney’s office said in a statement released Thursday.

Lepejian is scheduled to be sentenced Feb. 25, 2003, by U.S. District Judge Vaughn Walker.

San Jose-based HPL’s makes products used in semiconductor design, fabrication and test facilities.

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