SEC Reaches $25M Accord With Diebold, Targets Execs

Law360, New York (June 2, 2010, 3:59 PM EDT) -- The U.S. Securities and Exchange Commission has reached a $25 million settlement with Diebold Inc. on allegations that the company overstated its earnings to the tune of $127 million, but it is continuing to pursue claims against three former executives implicated in the scheme.

Diebold's former Chief Financial Officer Gregory Geswein, former Controller and later CFO Kevin Krakora, and former Director of Corporate Accounting Sandra Miller played a major role in manipulating the company's earnings to meet financial forecasts between 2002 and 2007, according to a...
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