Ericsson Worker Held in Account Break-Ins

An Ericsson accounts payable clerk was arrested for allegedly obtaining confidential information on at least eight other employees and helping a friend access their E-Trade Group Inc. stock accounts, government officials said. Jeanette Franklin, 29, who worked for Europe’s biggest phone-equipment maker since June 1999, supplied information that enabled her friend to sell $700,000 worth of stocks, said Thom Mrozek, a spokesman for the U.S. Attorney’s Office in Los Angeles. She and her friend, Babatunde “Baba” Osiname, were arrested Wednesday. Franklin is also accused of giving Osiname information on 17 other Ericsson employees who had credit card accounts opened under their names. Money from the accounts was used to open online stock-trading accounts, leading to $840,000 in losses for credit card companies, authorities said. Ericsson spokeswoman Kathy Egan said the company is reviewing its security practices.