Fugitive Ex-Symbol CEO Must Pay $63M Over Fraud

Law360, New York (October 4, 2011, 4:36 PM EDT) -- A New York federal judge on Friday ordered the former CEO of bar code scanner manufacturer Symbol Technologies Inc. to pay more than $62.7 million for his alleged role in a massive accounting fraud.

U.S. District Judge Sandra J. Feuerstein ruled that Tomo Razmilovic must pay nearly $41.8 million in disgorgement and a nearly $20.9 million civil monetary penalty for his role in the scheme, which saw Symbol greatly overstate its revenue and stock price. The order comes close to the $66 million the U.S. Securities...
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