The SEC said that Cotton ... orchestrated the scheme, which involved deliberately booking revenue and delivering products to a distributor before orders had been placed, violating accounting procedures by booking revenue from orders that gave distributors expanded rights to return unsold products.
Thursday, September 28, 2006
Ex-CFO charged with channel-stuffing
The ever-popular gimmick of channel-stuffing has found another victim. The Securities & Exchange Commission has "charged the former chief financial officer of Lantronix Inc. with orchestrating a scheme to inflate the company's financial results for fiscal 2001 and 2002."
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