Ingram Micro To Pay $15M Over McAfee Fraud Case

Law360, New York (May 13, 2009, 12:00 AM EDT) -- Computer technology distribution company Ingram Micro Inc. has agreed to pay disgorgement of $15 million to resolve claims that it participated in McAfee Inc.'s alleged accounting fraud.

The U.S. Securities and Exchange Commission said Tuesday it had settled cease-and-desist proceedings against Ingram Micro for allegedly violating the books and records and internal control provisions of the securities laws.

“Ingram Micro's books, records and accounts failed to accurately and fairly reflect its transactions with McAfee, and ... Ingram Micro failed to devise and maintain a system of...
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