Ex-CSK Auto Exec Pleads Guilty To Fraud

Law360, New York (May 16, 2011, 1:11 PM EDT) -- Former CSK Auto Corp. executive Don W. Watson pled guilty in Arizona on Friday to conspiracy to commit fraud, admitting that he and others contrived for years to file fraudulent financial statements that overstated the auto parts giant’s revenue by millions of dollars.

Watson, who was formally indicted in April 2009, pled guilty to his involvement in the scheme, which misstated the company’s finances from 2001 through 2006. By failing to write off allowance receivables from auto parts manufacturers that he knew, or should have known,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.