Financial services provider the Bisys Group will pay $25 million in restitution to settle federal charges that it violated financial reporting rules to artificially inflate earnings by $180 million over three years.
Bisys agreed to pay $25 million in restitution and interest to the Securities and Exchange Commission. The money will go to investors deemed to have been harmed by what the SEC alleged was improper accounting from July 2000 to December 2003, especially related to the insurance services division of Bisys.
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