SEC Sues Kids Clothing Co. Ex-Prez Over $18M Rebate Fraud

Law360, New York (October 19, 2012, 5:33 PM EDT) -- Government regulators on Friday launched a civil fraud suit in Georgia federal court alleging the indicted former president of Atlanta-based children’s clothing maker Carter’s Inc. engaged in a scheme to understate the company's expenses by more than $18 million.

The U.S. Securities and Exchange Commission alleges that Joseph Pacifico tried to hide more than $18 million in unauthorized rebates that Carter’s former vice president of sales, Joseph M. Elles, gave to Kohls Corp., one of Carter’s largest wholesale clients.

The SEC alleges that Pacifico knew Elles...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Securities And Exchange Commission v. Pacifico


Case Number

1:12-cv-03636

Court

Georgia Northern

Nature of Suit

Securities/Commodities

Judge

Amy Totenberg

Date Filed

October 18, 2012

Companies

Government Agencies

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.