Law360, New York (April 11, 2008, 12:00 AM ET) -- Former United Rentals Inc. Vice Chairman John Milne has been slapped with civil and criminal charges, with regulators and prosecutors alleging that Milne participated in a scheme to inflate the company's earnings.
In suits filed earlier this month, both the U.S. Securities and Exchange Commission and the U.S. Department of Justice alleged that Milne committed fraud by engaging in an accounting scheme aimed at meeting earnings forecasts.
The suits claim that Milne, aided by then-Chief Financial Officer Michael Nolan, created a series of “interlocking three-party sale-leaseback...
Third Exec Charged Over United Rentals Fraud
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