December 2017

DOJ Prosecutes Consumer Finance CFO for Accounting Fraud

United States - Florida

The U.S. Department of Justice prosecuted a former CFO of a publicly traded consumer finance company formerly headquartered in New York City. Henry Van Dyck led the prosecution in the U.S. District Court for the Southern District of Florida. The former CFO pled guilty after indictment, admitted to conspiring to fraudulently inflate the company’s earnings and revenue by initiating a series of sham transactions at the end of each quarter, and was sentenced to 10 years in prison. Negotiated a corporate resolution with the company’s successor-in-interest that resulted in the company paying approximately $30 million in restitution and monetary penalties.

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