Former CEO Of Iconix Model Team Convicted At Demo Of Accounting Fraud | USAO-SDNY

Damian Williams, the United States Attorney for the Southern District of New York, declared before right now that a federal jury discovered NEIL COLE, the former Chief Executive Officer of Iconix Brand Team, Inc. (“Iconix”), guilty of taking part in a plan to fraudulently inflate Iconix’s profits and earnings for every share, earning wrong filings with the U.S. Securities and Trade Commission (“SEC”), and deceptive the carry out of audits.  The defendant was observed responsible next a 4-week retrial prior to U.S. District Judge Edgardo Ramos.  Sentencing has not nonetheless been scheduled.

U.S. Lawyer Damian Williams reported: “As a unanimous jury has now identified, Neil Cole deceived his company’s traders and auditors in get to make his corporation show up to be undertaking improved than it was.  Cole tried to cover his perform guiding tips and lies, but the truth is now obvious: Cole cooked the textbooks.  This verdict sends a concept that this Office is dedicated to holding corporate executives accountable when they vacation resort to fraud, no issue how extended it normally takes.  Wall Road really should know that we will not be deterred from seeking justice in hard conditions.”

In accordance to the allegations contained in the

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