SEC Sues 3 Genesco Execs Charging Fraud

[Judi Lynn]

SEC Sues 3 Genesco Execs Charging Fraud
By Associated Press

December 17, 2003, 5:48 PM EST


NASHVILLE, Tenn. -- Federal regulators accused three division officers at shoe marketer Genesco Inc. of fraudulently reporting 2001 sales figures.

The Securities and Exchange Commission said in a lawsuit filed Tuesday in U.S. District Court in Nashville that the executives, two of whom no longer work at the company, lied about last-minute shipments before the end of the fiscal year when faced with a revenue shortfall at the Johnston & Murphy shoe division.

The actions allowed the company to improperly record $2.8 million in sales, the lawsuit charges.

Named as defendants in the lawsuit are Dorothy L. Mahler, 53, former Johnston & Murphy division president; John W. Bracewell III, 54, former division vice president; and Patricia L. Jones, 55, the division's former customer care director. (snip/...)

http://www.newsday.com/business/nationworld/wire/sns-ap-fraud-lawsuit,0,6877225.story?coll=sns-ap-business-headlines

[Tansy_Gold]

1. And can you tell why this case merits charges while

Lay, Skilling, Fastow, Ebbers, Kozlowski, and Friends all walk/ski/sail free and uncharged/unindicted?

Just another :puke: in a day of many :puke:s