Paul Humphreys, the former CFO of Safety-Kleen, has pleaded guilty in federal court on today to securities and bank fraud charges arising from a scheme to overstate earnings from 1998 through 2000. He faces up to 45 years in prison and $2.25 million in fines. The fraud was part of an attempt to meet earnings targets the company had predicted at the time Safety-Kleen was acquired by Rollins Environmental Services in 1998.
For the more complete story see CFO.com and the complaint filed by the SEC in the United States District Court for the Southern District of New York.
