Washington (Nov. 19, 2002) -- A CPA and former controller for a Hunt Valley, Md.-based consulting firm has agreed to pay $20,000 to settle civil charges against him by the Securities and Exchange Commission.
The SEC said Stephen R. Becker, 38, a former regional controller at EA Engineering, Science, and Technology Inc., an energy, environmental, and health and safety consulting firm, settled the charges against him without admitting or denying the allegations.
A District Court for the District of Columbia ordered Becker to pay a civil penalty of $20,000, suspended him from practicing as an accountant for three years, and barred him from violating SEC Rules.
The Commission's Oct. 30 complaint alleged that, among other things, Becker recorded fictitious revenue on EA's books in the form of false unbilled receivables to conceal project contract losses in fiscal 1999, leading the firm to materially misstate revenues for the quarter ended May 31, 1999, and for the fiscal year ended Aug. 31, 1999.
The SEC also alleged that Becker violated the antifraud and record-keeping provisions of the federal securities laws and aided and abetted EA Engineering's violations of the periodic reporting and record-keeping provisions of the federal securities laws.
-- Electronic Accountant Newswire staff
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