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Ex-IT Firm CFO To Pay $1.6M In SEC Judgment Over Fraud

Law360 (June 19, 2018, 9:09 PM EDT) -- A former executive at an Illinois information technology company has agreed to pay more than $1.6 million to resolve the U.S. Securities and Exchange Commission’s claims he embezzled millions and filed false financial disclosures to cover it up, the commission said in a court filing Tuesday.

Dhru Desai, who was the chief financial officer of bankrupt IT company Quadrant 4 System Corp., has agreed to the entry of final judgment in the SEC’s case against him, according to a motion filed by the SEC in Illinois...
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Case Information

Case Title

United States Securities and Exchange Commission v. Quadrant 4 System Corporation et al


Case Number

1:17-cv-04883

Court

Illinois Northern

Nature of Suit

850(Securities/Commodities)

Judge

Honorable Sara L. Ellis

Date Filed

June 29, 2017

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