Ex-Beazer Accounting Officer Hit With SEC Fraud Suit

Law360, New York (July 1, 2009, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has sued the former chief accounting officer of Beazer Homes USA Inc., alleging that the executive was a central figure in a scheme to misstate the homebuilder's net income by more than $60 million.

In a complaint filed Wednesday in the U.S. District Court for the Northern District of Georgia, the SEC said that Michael T. Rand recorded improper accounting reserves at Beazer Homes at various points between 2000 and 2005 in a bid to decrease the company's net income...
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