Beazer Accounting Head Found Guilty Of Securities Fraud

Law360, New York (October 28, 2011, 8:41 PM EDT) -- A North Carolina federal jury on Friday convicted the chief accounting officer of Beazer Homes USA Inc. on charges that he directed a seven-year accounting fraud scheme that led the model-home builder to misstate its revenues by millions of dollars.

Michael T. Rand was found guilty on seven counts including conspiracy, securities fraud and obstructing an official proceeding, following a two-week jury trial that began Oct. 11, according to court documents.

Rand faces a prison sentence of up to 125 years for his convictions and up...
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