Whistleblower
Advocates
Award Winning Attorneys
SEC Prosecutions
Final Judgments Obtained Against Former CFO and Chief Accounting Officer of Conseco, Inc. and Conseco Finance Corporation
SEC v. Rollin M. Dick and James S. Adams
- 2006
- $200,000
In this case, the SEC alleged that Conseco and Conseco Finance filed false and misleading statements, overstating earnings results by hundreds of millions of dollars, due to a fraudulent, improper accounting scheme conducted by defendants to avoid huge write-downs (and corresponding charges to earnings) of certain assets known as interest-only securities. Defendants also allegedly made a number of unsupported and improper adjustments to the companies’ books and records in several quarters to further inflate earnings to meet Wall Street targets.
