Former Ferro exec indicted

Brian Haylor, formerly controller of Ferro Corp.'s chemical group/polymer additives division, has been charged with securities fraud by Gregory A. White, U.S. attorney for the Northern District of Ohio. The charge alleges that from March 2003 through June 2004, Haylor, 37, committed fraud by causing Ferro to prepare and file false reports with the Securities & Exchange Commission. Among the specific charges, Haylor is alleged to have made false entries to make the company's earnings appear higher and its debts appear lower. Ferro has been working since July 2004 to clean up the accounting mess, including a restatement in January 2005 of almost two years of earnings.