Ex-Tvia Exec Settles SEC Fraud Suit

Law360, New York (May 31, 2011, 5:36 PM EDT) -- A former executive of semiconductor company Tvia Inc. agreed Thursday in California federal court to pay the U.S. Securities and Exchange Commission more than $136,000 to settle the agency's fraud case against him.

Benjamin Silva was accused in November 2009 of making side deals with customers that caused the company to over-report revenues by $5 million. Silva allegedly pocketed $300,000 from the deals, after he cashed in stock options he had won for hitting revenue targets.

Silva and his attorneys agreed to the settlement, which enjoins...
To view the full article, register now.