DOJ orders Evoqua to pay $8.5M over admitted securities fraud
By 
Jeff Dale2024-05-16T18:52:00
Evoqua Water Technologies agreed to pay $8.5 million as part of a nonprosecution agreement (NPA) with the Department of Justice (DOJ) to settle admitted criminal charges related to fraudulent revenue recognition.
Evoqua, which designs industrial wastewater treatment and filtration plants, was headquartered in Pennsylvania. Its aquatics and disinfection (A&D) division was based in Rhode Island, where the misconduct took place, the DOJ said in a press release Tuesday.
In March 2023, the company settled its civil liabilities related to the same misconduct with the Securities and Exchange Commission (SEC) by agreeing to pay a separate $8.5 million penalty. Evoqua also paid nearly $16.7 million to settle a shareholder class-action lawsuit over the same misconduct.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefChina-based Cloopen Group avoids fine in SEC accounting fraud case
China-based technology company Cloopen Group Holding won’t pay a fine in settling with the Securities and Exchange Commission over an alleged accounting fraud scheme perpetrated by two of its former senior managers.
-
News BriefCantaloupe fined $1.5M in SEC accounting fraud case
Electronic payments software company Cantaloupe agreed to pay a $1.5 million penalty to settle allegations of accounting fraud levied by the Securities and Exchange Commission arising from improper revenue recognition practices.
-
News Brief
Evoqua Water Technologies to pay $8.5M for alleged revenue inflation
Evoqua Water Technologies Corp. agreed to pay $8.5 million to resolve charges the actions of a former company finance director led the firm to misstate its revenue in filings with the Securities and Exchange Commission.
More from Regulatory Enforcement
-
ArticleTariff evasion enforcement: The new FCPA
Companies that import goods into the United States will face heightened enforcement scrutiny for attempted acts of customs fraud, including tariff evasion, under the Trump administration. Thus, chief compliance officers and in-house counsel face a new kind of pressure to ensure they are mitigating risk in this area.
-
ArticleFormer COO of plastics importer faces up to five years for customs falsifications
The chief operating officer of a plastic resin importer has pleaded guilty to intentionally falsifying documents to avoid paying tariffs on goods from China, the Department of Justice (DOJ) announced.
-
ArticleCybercrime against banks and account holders takes hit from FBI
Federal investigators have announced progress in dismantling an online criminal operation that steals bank account information by mimicking legitimate bank websites.