The Securities and Exchange Commission this week filed fraud charges against Richmond, Va.-based paperboard and plastic packaging supplier Chesapeake Corp. and four of its former executives in connection with the company's 2000 restatements.
The Commission's complaint alleged, among other things, that the four executives -- William T. Tolley, Chesapeake's former chief financial officer; Carlos A. Gonzalez, Chesapeake's former corporate controller; William D. Wiseman, a former chief financial officer of Chesapeake Display & Packaging; and Douglas J. Rex, former controller of CD&P's largest business unit, U.S. Display -- were involved in a fraud that led the company to materially misstate its reported quarterly earnings for the first and second quarters of 2000 and its anticipated earnings for the third quarter of 2000.
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