Tangoe Inc. and three of its former senior executives settled accounting fraud charges with the SEC over the company artificially inflating revenues by $40 million from 2013 to 2015.
The Securities and Exchange Commission, in a case filed Sept. 4, accused the now privately held telecommunications expense management company of reporting revenue prematurely, including service prepayments. The company was also accused of reporting transactions that generated no revenue.
Tangoe agreed to pay $1.5 million to settle the charges. In addition, former CEO Albert Subbloie agreed to pay $100,000; former Chief Financial Officer Gary Martino $50,000; and former vice ...
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