Ex-MedQuist CFO Settles SEC Suit Over Billing Fraud

Law360, New York (April 29, 2011, 8:09 PM EDT) -- Former MedQuist Inc. Chief Financial Officer Brian Kearns on Friday agreed to pay $50,000 to settle a U.S. Securities and Exchange Commission suit in New Jersey over an allegedly fraudulent billing scheme at the medical transcription company.

Without admitting or denying the allegations, Kearns brought the agency’s fraud suit to an end, consenting to a final judgment that imposes a $50,000 civil penalty and bars him from violating securities laws or failing to abide by bookkeeping and internal governance standards.

The SEC sued Kearns and MedQuist...
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Case Information

Case Title

UNITED STATES SECURITIES AND EXCHANGE COMMISSION v. KEARNS et al


Case Number

1:09-cv-03599

Court

New Jersey

Nature of Suit

Securities/Commodities

Judge

Jerome B. Simandle

Date Filed

July 21, 2009

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