InfoGroup Ex-CEO To Pay $7.3M To Settle SEC Claims

Law360, New York (March 16, 2010, 2:15 PM EDT) -- The former CEO and chairman of InfoGroup Inc. has agreed to pay more than $7.3 million to settle U.S. Securities and Exchange Commission allegations that he improperly used the company as a piggy bank.

The SEC filed a complaint Monday in the U.S. District Court for the District of Nebraska against Vinod Gupta, 63, the former head of the sales leads provider previously known as infoUSA Inc.

The commission also filed complaints against Vasant H. Raval, 70, former chairman of the company's audit committee, and Rajnish...
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