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Stock Market & Financial Investment News

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August 22, 2014
14:28 EDTATCHSEC charges AirTouch with fraud in revenue recognition scheme
The Securities and Exchange Commission, or SEC, announced charges against AirTouch, a Newport Beach, California-based telecommunications equipment company and its two former executives accused of improperly recognizing as revenue more than $1M worth of inventory that was shipped to a Florida warehouse but not actually sold. They’re also accused of defrauding an investor from whom they secured a $2M loan for the company based on misstatements and omissions associated with the inventory shipments. Reference Link
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