Ex-Raytheon Execs Settle With SEC For $1.5M

Law360, New York (March 16, 2007, 12:00 AM EDT) -- Three former top executives of defense contractor Raytheon Co. have agreed to pay a total of $1.5 million to settle charges that they engaged in a scheme to camouflage increasingly dire financial circumstances at the company.

One-time chief financial officer Franklyn Caine will pay $830,000; former controller Edward Pliner will pay $565,000; and former head of Raytheon’s aircraft unit James Gray will pay $106,000 to the U.S. Securities and Exchange Commission, ending an investigation into allegations of improper disclosure and accounting practices at Raytheon’s commercial aircraft...
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