New Networks Institute filed complaints with N.Y. PSC and N.Y. At...
New Networks Institute filed complaints with N.Y. PSC and N.Y. Attorney Gen.’s office seeking property audits of Verizon assets. Group charged Verizon was recovering costs from ratepayers on more than $600 million in N.Y. “vaporware,” equipment and assets that…
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either didn’t exist or couldn’t be verified. Group said evidence for its complaint was taken from FCC 1998 audits of Bell and GTE operating company property records that found $5 billion in missing equipment and $14 billion in unverifiable assets. Group said FCC didn’t take action but left matter to states. Group said it would be filing similar petitions in other Verizon states and with state commissions in other Bell regions, plus petitions to IRS to explore federal tax consequences of alleged vaporware.