August 14, 2020

Mark P. Frissora

Financial Fraud

SANCTION AMOUNT: $2182654

Defendants: Mark P. Frissora

Defendant, former CEO and Chairman of rental car company Hertz, agreed to settle charges that he aided and abetted the company in its filing of inaccurate financial statements and disclosures in 2013. The inaccuracies allegedly resulted from defendant’s instructions to re-analyze reserve accounts and to keep older cars in the company’s fleet to lower depreciation expenses. Hertz subsequently filed a $235 million re-statement of the relevant financials.

Key Docs
Official SEC press release

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