SEC Goes After Theradoc Exec For Improper Transfers

Law360, New York (September 28, 2010, 12:57 PM EDT) -- The U.S. Securities and Exchange Commission has accused Hospira Inc. subsidiary Theradoc Inc.'s controller Paul R. Beckwith of illegally transferring corporate funds out of Theradoc's operating account into accounts for his own use.

Judge Dale A. Kimball entered an order freezing Beckwith's assets and prohibiting the destruction of documents in the U.S. District Court for the District of Utah on Tuesday.

Beckwith has been making the improper transfers since at least February 2009, and the last withdrawal occurred Sept. 15, according to the SEC's complaint, filed...
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