Archive for 'Bad Apples'
SEC Charges AOL Execs With Securities Fraud
Posted on 07. Jul, 2008 by admin.
On May 19, 2008, the Securities and Exchange Commission filed civil fraud charges against eight former executives of AOL Time Warner Inc. for their roles in a fraudulent scheme that caused the company to overstate its advertising revenue by more than $1 billion.
The SEC filed charges in District Court that John Michael Kelly, former Chief [...]
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Broadcom execs charged with securities fraud
Posted on 05. Jun, 2008 by admin.
The Securities and Exchange Commission (SEC) today charged the founders of Broadcom, Henry Nicholas III and Henry Samueli (photo on right), with securities fraud by falsifying the company’s income. The executives backdated options to the date of the underlying stock’s lowest price, thereby increasing the worth of the options and earnings from the options [...]
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Executives of McCann-Erickson charged with accounting fraud
Posted on 30. May, 2008 by admin.
The SEC charged two executives at McCann-Erickson Worldwide with accounting fraud. The SEC charges allege that the company overstated revenue in the 1997 to 2002 time period by $181 million. The overstated revenue was material and defrauded the parent company investors.
Salvatore Lagreca, Vice Chairman and Director Finance, and Brian Watson, Director of Operations [...]
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