SEC Seeks Hefty Fine Against Ex-Gemstar Chief

Law360, New York (March 29, 2006, 12:00 AM EST) -- The U.S. Securities and Exchange Commission wants Henry Yuen, the former chief executive of Gemstar-TV Guide, to cough up $60.9 million for his role in a massive accounting fraud perpetrated at the company.

Yuen had been found liable earlier this month for securities fraud amid charges that he inflated the company’s earnings by $248 million in order to boost its stock.

The SEC’s proposed fine includes a $15.7 million civil penalty, which could potentially be the biggest SEC sanction for an individual in an accounting case....
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