The U.S. Securities and Exchange Commission took aim Wednesday at Stephen Pence, a former Dinsmore & Shohl partner, federal prosecutor and lieutenant governor of Kentucky, amid fraud allegations surrounding BDO USA LLP’s audit of the staffing company General Employment Enterprises Inc.
In a statement announcing the claims and string of related settlements with BDO and others, the SEC said the auditor overlooked red flags and made misleading statements related to General Employment’s 2009 audit. The SEC’s allegations stem from the disappearance and re-appearance of $2.3 million from General Employment’s cash reserves shortly before the company filed its annual SEC Form 10-K disclosure for the 2009 fiscal year.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]