SEC charges

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Accounting Fraud Watch: Autonomy Trial, Patisserie Valerie Arrests, Longfin CEO Charged

Plus, Patisserie Valerie’s ex-chairman doesn’t have nice things to say about Grant Thornton and Steinhoff warns of lingering damage from massive accounting fraud. Lynch says HP’s Meg Whitman couldn’t cope with ‘all the fires’ [Bloomberg] On his first day of testimony, Autonomy founder Mike Lynch said Hewlett-Packard Co.’s executives made him a scapegoat for their […]

As a Result of Breaking SEC Rules, Deloitte Japan Is $2 Million Lighter In the Wallet

There was some bad decision-making going on at Deloitte Touche Tohmatsu in Japan. Dozens of its employees had bank accounts at the subsidiary of a client for which Deloitte Japan issued audit reports, which is a no-no because Securities and Exchange Commission rules don’t allow accountants to have bank accounts with audit clients that have […]

SEC Got All Grinchy on Crowe, Four Partners for Bad Banana of an Audit

We interrupt your Christmas Eve merriment to bring you this press release from the Securities and Exchange Commission, which on Dec. 21 announced not-so-glad tidings about Crowe LLP’s audit team: The Securities and Exchange Commission today filed settled charges against national audit firm Crowe LLP, two of its partners, and two partners of a now-defunct audit […]

eBay’s Former Director of SEC Reporting (and Deloitte Alum) Charged With Insider Trading By SEC

A CPA who once was the director of Securities and Exchange Commission reporting for eBay Inc. was charged with insider trading by the SEC on Sept. 28 for allegedly using insider information ahead of a PayPal Holdings acquisition to make nearly $36,000 in illegal trading profits, according to documents released on Oct. 16. Bryan Long, […]

How Do We Fraudulently Boost Revenues for Thee? Let Me Count the Ways

If you’re going to get busted for using fraudulent accounting practices to artificially inflate your company’s revenues, you might as well make it worth your while—or at least worth the fine you’re going to have to pay to the Securities and Exchange Commission. The SEC levied fraudulent accounting charges against Tangoe, formerly a public telecommunications […]

BOOYAH! SEC Goes After TheStreet for Multiple Accounting Infractions

Hmm, wonder if Jim Cramer will mention this on his show tonight? The Securities and Exchange Commission today charged a digital financial media company and three executives for their roles in an accounting fraud that artificially inflated company revenues and misstated operating income to investors. According to the SEC, TheStreet Inc. filed false financial reports […]