- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-06-17T13:52:00
The Securities and Exchange Commission (SEC) issued more than $500,000 in penalties and fines to the former chief financial officer at a tech company for allegedly falsifying financial statements and lying to the company’s auditor.
The SEC received a final judgment Friday in its case against former Synchronoss Technologies CFO Karen Rosenberger, filed in U.S. District Court for the Southern District of New York, the agency said in an administrative proceeding. In addition to imposing an injunction and an officer and director bar against Rosenberger, the SEC also fined her $125,000. She also agreed to return $430,000 in compensation to Synchronoss, pursuant to the Sarbanes-Oxley Act.
In June 2022, Synchronoss reached a $12.5 million settlement with the SEC for engaging in “long-running accounting improprieties” that involved materially misleading financial statements filed from 2013-17. Seven Synchronoss executives, including Rosenberger, were charged in connection with the case.
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Restaurant operator FAT Brands said it would contest charges announced by the Department of Justice regarding violations of the Sarbanes-Oxley Act related to personal loans made to executive officers.
The Securities and Exchange Commission announced software company Synchronoss Technologies agreed to a $12.5 million settlement for “long-running accounting improprieties” caused, in part, by alleged misconduct from senior executives.
The PCAOB fined two EY partners for “failing to perform adequate procedures and obtain sufficient evidence” in connection with the Big Four firm’s audit of New Jersey software company Synchronoss Technologies.
Precision Toxicology has agreed to pay $27 million to settle allegations first brought by whistleblowers in three cases, that the company billed the federal government for unnecessary drug tests and paid kickbacks to doctors, the Department of Justice (DOJ) said.
Fund management company WisdomTree will pay $4 million to settle allegations by the Securities and Exchange Commission that it improperly invested in fossil fuel and tobacco companies in environmental, social and governance (ESG) funds despite promising to avoid them.
A Vietnamese alcohol company has agreed to pay $860,000 to settle allegations by the Office of Foreign Assets Control (OFAC) that its business with North Korea involved U.S. financial institutions.
