Ad Firm Officials Charged With $20M Accounting Fraud

Law360, New York (November 3, 2011, 9:51 PM EDT) -- Two former officials of the U.S. division of outdoor advertising company and Aegis Group PLC unit Posterscope have been charged with orchestrating a five-year, $19.75 million accounting fraud scheme in order to boost their pay, prosecutors revealed Thursday.

According to a criminal complaint filed Monday and unsealed Thursday in New York federal court, former Posterscope USA President Todd Hansen and former finance officer James Buckley cooked the company's books to make it appear the company was hitting performance targets, so they would receive higher salary increases,...
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