The Securities and Exchange Commission has charged former Endocare Inc. chief executive Paul Mikus and chief financial officer John V. Cracchiolo with accounting fraud.

The SEC complaint alleges that the men overstated revenue at the medical device company in 2001 and 2002 , with the company overstating revenues as much as 33 percent in one quarter. The complaint also says that fraudulent accounting caused earnings to be overstated at least 16 percent in all of 2001. The company has already restated its earnings for both years and said that it doesn't plan to make any further corrections as a result of the investigation.

"Endocare's egregious and widespread fraud pervaded the executive suite," said the director of the SEC's Pacific regional offices in Los Angeles, Randall R. Lee, in a statement.

Endocare, based in Irvine, Calif., makes medical devices to treat cancers and prostate ailments and is already struggling to stay financially afloat. Last month, it agreed to pay $750,000 to settle an SEC investigation of the accounting issues and another trio of current and former employees settled related charges.

"This is just a continuation of what was settled with the company, and the SEC has taken the next step of filing charges with these individuals who have long been separated from the company," Endocare spokesman Matt Clawson said. The SEC or Justice Department isn't investigating the company itself.

Endocare said on Tuesday that it had received an SEC subpoena for information on stock-option grants involving former officers and directors.

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