Image Entry CEO Cops To $2M Fraud

Law360, New York (April 14, 2010, 10:27 PM EDT) -- The founder and CEO of data processing company Image Entry Inc. has admitted his role in an accounting scheme to inflate the earnings he received when SourceCorp Inc. bought the company in 2001.

Bill D. Deaton pled guilty Tuesday to one count of conspiracy to commit wire fraud in the U.S. District Court in the Northern District of Texas, admitting that he and other executives failed to report Image Entry's operating expenses so as to maximize his own payout in the transaction with SourceCorp.

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