SEC Victorious In Waste Management Fraud Suit

Law360, New York (June 30, 2006, 12:00 AM EDT) -- In one of the biggest corporate fraud cases ever prosecuted by the Securities and Exchange Commission, former Waste Management Inc. finance chief James E. Koenig was found liable Thursday of cheating investors out of more than $6 billion.

The verdict, handed down by a federal jury in Chicago, did not specify Koenig’s punishment, but the SEC is expected to seek a substantial fine. It is also expected to try to bar Koenig from ever again serving as the officer or director of a publicly traded company....
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