December 29, 2016
General Cable Corporation
Financial Fraud
SANCTION AMOUNT: $6500000
Defendants: General Cable Corporation
Commission found that, from 2008 to the second quarter of 2012, Respondent materially misstated its financial statements due to improper inventory accounting at its Brazil subsidiary that went undetected due to the companys internal accounting controls failures. This settlement was reached simultaneously with a settlement resolving FCPA charges that also had been brought against Respondent.
- Key Docs
- Official SEC press release