[updated Jan. 14 to correct the title of the officer to read 'CFO']

There are many ways for the CFO of a company to handle receiving news from a co-worker that the company has engaged in improper accounting by recording false revenues. In a case filed today, the SEC alleges that when the former controller of a company called NutraCea tried to discuss with the CFO her discovery that a $1 million deposit on $2.6 million in allegedly false sales to a company called Bi-Coastal

came from a loan from the former COO to Bi-Coastal in order to justify NutraCea's recognition of revenue from this sale, she says that [the CFO] "covered his ears and said, 'No, no, no, no, no, no, no, no, no. I don't want to hear it.'" 

The SEC has sued NutraCea, three former executives including the CFO, and two former accounting personnel for engaging in a fraudulent accounting scheme to inflate sales revenues at the company. The SEC announced that NutraCea and all of the individuals other than the "no, no, no" former CFO agreed to settle the SEC's charges against them.