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SEC Prosecutions
Former Restaurant Chain Financial Executives Settle Charges of Undisclosed Compensation and Accounting Fraud
SEC v. Greg A. Gadel and Daniel J. Skrypek
- 2008
Defendants were the former CFO and controller of restaurant chain operator Buca Inc. They were charged with directing a financial fraud in which Buca inflated its income by nearly $12 million from 2000 to 2004 through the improper capitalization of numerous expenses. In addition, they also took close to $100,000 in undisclosed compensation. They were enjoined and barred in proceedings brought by the SEC, and both were also criminally convicted, with Gadel receiving a prison sentence and monetary penalties.
