The U.S. Supreme Court rejected an appeal by Joseph Apuzzo, the former chief financial officer of Terex Corp. (TEX:US), letting the Securities and Exchange Commission press ahead with claims that he aided an accounting fraud.
The justices today left intact a federal appeals court decision that said the SEC had adequately alleged that Apuzzo provided substantial assistance to the scheme.
The SEC claims Apuzzo helped United Rentals Inc. (URI:US), an equipment-leasing company, carry out two fraudulent sale and leaseback transactions in 2000 and 2001.
Terex, an equipment-manufacturing company, is based in Westport, Connecticut. United Rentals is based in Greenwich, Connecticut.
The case is Apuzzo v. Securities and Exchange Commission, 12-1118.
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