(The news featured below is a selection from the news covered in Federal Securities Law Reporter, which is distributed to subscribers of Federal Securities Law Reporter.)

CPA Suspended For Allegedly Falsifying Records, Filings

A certified public accountant serving as a company's corporate controller was suspended for five years from appearing or practicing before the Commission as an accountant. The Commission found that the CPA engaged in a fraud that overstated the company's income in SEC filings and public announcements, falsified company books and records, violated Generally Accepted Accounting Principles and provided independent auditors with false or misleading information in connection with audits of the company's financial statements. After the five-year suspension, the CPA could apply for reinstatement to practice before the Commission under certain conditions.

Release No. 34-55149 is reported at ¶87,751.