SEC Sues 2 Ex-Bally Execs Over Bill-And-Hold Deals

Law360, New York (September 25, 2008, 12:00 AM EDT) -- Two former accounting executives from Las Vegas-based casino supplier Bally Technologies Inc. are facing civil charges brought by federal regulators alleging they artificially inflated the company's reported revenue and misled investors about the company's earnings.

In a complaint filed Wednesday in the U.S. District Court for the District of Nevada, the U.S. Securities and Exchange Commission accuses former Chief Financial Officer Steven M. Des Champs and former Vice President of Finance Martha W. Vlcek of improperly recording bill-and-hold transactions in the company's revenue statements.

The alleged...
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