accounting fraud

Luckin Coffee Fined $180M in Accounting Fraud
Risk & Compliance

Luckin Coffee Fined $180M in Accounting Fraud

The SEC says the Chinese retailer fabricated more than $300 million in coupon sales to present a false picture of rapid growth to investors.
By Matthew Heller | December 17, 2020
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SAExploration Accused of Accounting Fraud
Risk & Compliance

SAExploration Accused of Accounting Fraud

The alleged multi-year fraud falsely inflated the company’s revenue and concealed the theft of millions of dollars.
By Lauren Muskett | October 9, 2020
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Three Former Manitex Execs Charged With Fraud
Risk & Compliance

Three Former Manitex Execs Charged With Fraud

Former CFO Michael Schneider and two colleagues allegedly engaged in schemes that resulted in the crane maker’s revenue and profit being overstated.
By Matthew Heller | October 1, 2020
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Interface, ex-CFO Fined $5M for Inflating Earnings
Risk & Compliance

Interface, ex-CFO Fined $5M for Inflating Earnings

The SEC says the carpet maker adjusted its accounting when its forecasts indicated it would likely fall far short of analysts' earnings estimates.
By Matthew Heller | September 28, 2020
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Luckin Coffee Ousts Chairman Amid Accounting Scandal
Risk & Compliance

Luckin Coffee Ousts Chairman Amid Accounting Scandal

The removal of Charles Zhengyao Lu comes weeks after an earlier attempt failed to get enough votes.
By Lauren Muskett | July 14, 2020
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Ironclad Execs Accused of $6M Accounting Fraud
Risk & Compliance

Ironclad Execs Accused of $6M Accounting Fraud

The SEC says former CFO William Aisenberg and two colleagues improperly recognized revenue to inflate the work glove maker's revenue by as much as 24%.
By Matthew Heller | April 9, 2020
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SEC Charges Former MiMedx Execs With Fraud
Risk & Compliance

SEC Charges Former MiMedx Execs With Fraud

The C-suite executives allegedly improperly recognized revenue from distributors with which MiMedx had secret side arrangements.
By Matthew Heller | November 27, 2019
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Comscore Fined $5M Over Accounting Fraud
Risk & Compliance

Comscore Fined $5M Over Accounting Fraud

The data analytics giant's former CEO allegedly improperly recognized revenue from non-monetary transactions to beat Wall Street estimates.
By Matthew Heller | September 25, 2019
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SEC Charges Longfin CEO With Accounting Fraud
Risk & Compliance

SEC Charges Longfin CEO With Accounting Fraud

Venkata Meenavalli, who was previously accused of illegal stock distribution, is now also facing charges that he falsified nearly 90% of Longfin's revenue.
By Matthew Heller | June 6, 2019
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SEC Charges College Controller with Fraud
Risk & Compliance

SEC Charges College Controller with Fraud

Keith Borge of the College of New Rochelle agreed to a partial settlement over allegations he misstated assets.
By Lauren Muskett | March 29, 2019
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Hong Kong Firm Fined $3M for Accounting Fraud
Risk & Compliance

Hong Kong Firm Fined $3M for Accounting Fraud

The SEC says Agria Corp. hid from investors a $17.5 million loss from the sale of its primary operating entity in China.
By Matthew Heller | December 12, 2018
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Internal Controls Violations in Cyber-Fraud Cases?
Risk & Compliance

Internal Controls Violations in Cyber-Fraud Cases?

The SEC takes the position that public companies must assess and calibrate internal accounting controls for the risk of cyber frauds.
By Howard Scheck | November 15, 2018
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Ex-Bankrate CFO Gets 10 Years for $25M Fraud
Risk & Compliance

Ex-Bankrate CFO Gets 10 Years for $25M Fraud

Edward DiMaria argued the fraud amounted to only an “incremental smoothing of earnings” but prosecutors said he "blatantly manipulated" Bankrate's earnings.
By Matthew Heller | September 26, 2018
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Ex-Bankrate CFO Pleads Guilty to $25M Fraud
Risk & Compliance

Ex-Bankrate CFO Pleads Guilty to $25M Fraud

Edward DiMaria will be sentenced in September for using "cushion" accounting to inflate Bankrate's reported revenue and earnings.
By Matthew Heller | July 2, 2018
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Ex-Autonomy CFO Convicted of Massive Fraud
Risk & Compliance

Ex-Autonomy CFO Convicted of Massive Fraud

A U.S. jury finds Sushovan Hussain "misused his special skills in accounting" to inflate the U.K. software firm's revenues before it was acquired by HP.
By Matthew Heller | May 1, 2018
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