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Healthcare Exec Settles $117 M Fraud Case

Law360 (November 8, 2005, 12:00 AM EST) -- An executive who created journal entries that overstated profits and understated losses to the tune of $117 million reached a settlement with the Securities and Exchange Commission regarding the fraud charges brought against him.

David G. Zilli, former Chief Financial Officer of non-profit healthcare organization Bon Secours Cottage Health Services. agreed to pay the SEC $144,513 in disgorgement.

The penalty not only settles the SEC charges against him but also will be subtracted from any penalty leveled against him in the criminal case pending in the...
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