United Rentals has agreed to pay $14 million to settle charges that it engaged in financial fraud and a broad range of improper accounting practices.

The company is one of the largest equipment rental providers in the world with locations throughout the U.S., Canada and Mexico. The Securities and Exchange Commission alleged that between late 2000 and 2002, URI engaged in a series of dubious three-party sales-leaseback transactions to meet earnings forecasts and analyst expectations.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access