Lucent Technologies, the US communications equipment manufacturer, has been forced to pay a $25m (€21m) penalty after being charged by the US Securities and Exchange Commission with fraud and violations of federal laws, in the latest accounting scandal to hit a US corporation.

The SEC also charged nine current and former Lucent officers, executives and employees, with securities fraud and aiding Lucent's violations of the federal securities laws. Lucent provides the communications lines and networks for computer systems of many of the world's largest investment banks, brokers and fund managers.