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The chief financial officer of Veritas Software (VRTS), KENNETH LONCHAR, was ousted in October when board members discovered that he never graduated from Stanford University's business school as he had claimed. Actually, the 44-year-old never even attended Stanford. And for a good 15 years, nobody in Silicon Valley bothered to make a local call to inquire.

The 53-year-old chairman and chief executive of Bausch & Lomb Inc. (BOL), RONALD L. ZARRELLA, falsely claimed to have earned an MBA from New York University. When he was found out in October, he had to forfeit a bonus of $1.1 million. Guess the headhunter that recommended Zarrella to his previous employer, General Motors Corp., hadn't checked up on him, either.

BRYAN MITCHELL, the 42-year-old head of MCG Capital Corp. (MCGC), admitted in November that he never earned an undergraduate degree from Syracuse University, although he did attend the school. He resigned as chairman and forfeited his 2001 and 2002 bonuses--but remains CEO.

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