Two ex-Penn West executives must face U.S. SEC fraud charges

News


A U.S. pass judgement on has ordered two former finance executives at Penn West Petroleum Ltd, now referred to as Obsidian Energy Ltd , to face regulatory charges that they helped engineer a multi-year accounting fraud to scale back the Canadian corporate’s running bills. In a call made public on Monday, U.S. District Judge Gregory Woods in Manhattan stated the Securities and Exchange Commission’s grievance raised a “robust inference” that Todd Takeyasu and Jeffery Curran meant to defraud traders. Prior to being terminated in 2014, Takeyasu were Penn West’s leader monetary officer, and Curran reported to him as vp of accounting and reporting.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *