- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2022-08-29T19:44:00
The Securities and Exchange Commission (SEC) ordered a former principal accounting officer and controller at PPG to pay $100,000 for accounting improprieties aimed at inflating the Pittsburgh-based painting supply company’s earnings per share.
Mark Kelly, who was terminated by PPG in 2018 after an internal investigation into his alleged actions, was barred from practicing as an accountant at any public firm without the right to apply for reinstatement, according to the SEC’s order published Friday. Kelly did not admit nor deny the agency’s findings in reaching settlement.
Kelly inflated earnings during the years 2016-18, according to the SEC.
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PPG announced the SEC and Department of Justice have ended their investigation into alleged accounting irregularities by the company and will not be issuing a financial or any other penalty.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
A Minnesota dermatology practice, its owner, and chief executive agreed to pay $1.6 million to settle allegations, first brought by two whistleblowers, that the company violated the Anti-Kickback Statue by making false claims to Medicare.
