Ex-Carter's President Charged In $16M Securities Fraud

Law360, New York (March 20, 2012, 5:04 PM EDT) -- The former president of children's clothing maker Carter's Inc. was indicted on securities fraud charges Tuesday in Georgia for allegedly engaging in a scheme to understate the company's expenses by more than $16 million over three years.

A federal grand jury in Atlanta indicted Joseph Pacifico for fraud, filing false financial statements and falsifying the books and records of a public company.

The charges were unveiled in a superseding indictment filed in the criminal case against Carter's former vice president of sales Joseph M. Elles, who...
To view the full article, register now.