It looks as if Waste Management's CFO has chosen not to settle with the SEC...

Via The Chicago Tribune:

Former finance chief to fight SEC's accounting fraud charges

Bloomberg News
Published August 30, 2005

The former chief financial officer of Waste Management Inc. has decided to fight the Securities and Exchange Commission's claims that he participated in an accounting fraud at the company when it was based in Oak Brook.

James E. Koenig decided not to settle the civil complaint. "Mr. Koenig firmly believes and stands by the accuracy of the financial statements issued by Waste Management during his entire tenure," Harlan Loeb, a spokesman for Koenig in Chicago, said Monday. The SEC said it will proceed with its case against Koenig.

The company, which was not charged in the suit, disclosed the settlement Friday and said it would pay $26.8 million to settle the suit against four former executives. In 1998, Waste Management, now based in Houston, had to restate its 1992-97 earnings by $1.7 billion.

The SEC also barred all four men from serving as officers or directors of a public company.

The original article appears here.

-- MDT