SEC Awards More Than $1 Million to Whistleblower

SEC

The Securities and Exchange Commission today announced an award of more than $1 million to a whistleblower whose information and assistance led to an SEC enforcement action.  The whistleblower provided SEC staff with valuable information and ongoing assistance, which included participating in an interview with the staff and providing documents and additional information, saving the SEC time and resources read more »

SEC Charges Executives of Network Infrastructure Company With Accounting Fraud

SEC

The Securities and Exchange Commission today charged the former CEO and CFO of FTE Networks Inc., a network infrastructure company formerly based in Naples, Florida, with conducting a multi-year accounting fraud. This alleged scheme involved inflating the company’s revenues for certain periods by as much as 108 percent, the misappropriation of millions of dollars of company funds for personal use, and concealing the then-NYSE listed publicly traded company’s issuance of almost $23 million in convertible notes. 

As IRS audits waned, big businesses racked up unapproved tax breaks

WASHINGTON POST

Federal audits of corporate tax returns have plunged in recent years, letting big companies claim elaborate tax breaks with less government scrutiny, according to a Washington Post analysis of company filings. read more »