SEC Targets Third-Party Vendors In Massive Fraud
The SEC accused seven individuals of complying with illegal requests from auditors at Maryland-based U.S. Foodservice to provide false third-party confirmations of certain financial data. The false responses were then used to inflate the company’s assets by $700 million in 2001 and 2002, according to the SEC.
The suit, which targeted independent food brokers, sales...
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