A federal jury Former Delphi CEO JT Battenberg deleted raised the most serious allegations against him by the Securities and Exchange Commission. The SEC had both Battenberg and former Delphi accountant Paul Free with a variety of offenses, the most severe, were associated with the fraud charges breached a $ 237,000,000 payment to General Motors loaded. On Thursday, the jury Battenberg approved by four of the most serious charges, but I found him found guilty, maintain accurate books and records and misleading an accountant.
Meanwhile, the jury that Free delinquent rules with a smaller transaction that Delphi was done connected to a bank.
The SEC had Battenberg of misreporting the payment to General Motors so that the company appear to be more bottom-line investors, as it was actually accused of. The move was believed to have been made to ensure larger bonuses for the CEO and other executives.
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