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HARRIS SCARFE CFO JAILED

  1. deltoid

    415 Posts.

    the following is from the ABC site.

    Hopefully we are not following the US and this is only the first of many.

    Harris Scarfe chief jailed for six years

    The former chief financial officer of Harris Scarfe has been jailed in Adelaide for six years for a string of charges arising out of the retail company's collapse.

    Alan Hodgson, 57, had pleaded guilty to 32 counts of making false entries into the books of the company and disseminating false information to the Stock Exchange.

    He falsely inflated the profit figures of the company by $36 million over a five-year period.

    Judge Bright of the South Australian District Court said while Hodgson did not gain personally from the fraud, his actions wrought havoc.

    Hodgson will serve a minimum of three years before being eligible for parole.

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