Nicor Says Some Employees May Have Committed Fraud

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The Naperville-based company says four employees were fired recently in connection with the matter. The company says the conduct was possibly in violation of Securities and Exchange Commission rules and applicable law.

Nicor has been the subject of investigations by the SEC, the U.S. attorney's office and the Illinois Commerce Commission.

An initial internal company investigation found no criminal activity or fraud, but Nicor said Monday that a review of information not available to the independent counsel who prepared the report and re-interviews of some Nicor Gas employees indicated the potential fraud.