A 27 count indictment has been filed against two former executives of medical product manufacturer, Endocare. The comany's former CEO, Paul Mikus and former CFO, John Cracchiolo were charged with wire and securities fraud, filing false statements with the SEC and lying to the company's accountants. The two allegedly participated in a scheme in 2001 and 2002 to artificually inflate Endocare's revenue, ultimately costing investors an estimated $200 million.

Further details on the Endocare indictment can be found here.

-- MDT

Labels: accounting fraud, Endocare, John Cracchiolo, Paul Mikus, SEC