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Ex-CFO Settles SEC Fraud Charges

According to the SEC, the former health-care finance chief made bogus manual journal entries that overstated the value of numerous assets and operating income and understated liabilities.

> > David G. Zilli, the former CFO of Bon Secours Cottage Health Services, has settled SEC charges that he engaged in a fraudulent accounting scheme. A parallel criminal action was filed in U.S. District Court for the District of Maryland.
According to the commission, Zilli made bogus manual journal entries that overstated the value of numerous assets and the operating income of Cottage Health and understated its liabilities. As a result, the financials were cumulatively misstated by a total of $117 million.
Source: CFO


Published:2005-11-04
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