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The Wall Street Journal reported on Monday that the SEC's board had overturned a staff recommendation of charges and a $1 million fine against Winnick.
Donaldson and two fellow Republican commissioners overturned a staff recommendation to charge Winnick even though Winnick had tentatively agreed to pay a fine.
According to a letter leaked to the media in January, the company's former vice president of finance [and whistle blower], Roy Olofson, wrote a five-page note detailing deceptive accounting practices involving Global Crossing, Asia Global Crossing and Arthur Andersen.