WASHINGTON May 27 Dallas jewelry company DGSE
Companies Inc and its former chief financial officer
agreed to settle accounting fraud charges, the U.S. Securities
and Exchange Commission said on Tuesday.
The company and its finance chief materially inflated the
value of inventory, the SEC said.
I. John Benson agreed to pay a $75,000 penalty and will be
barred from serving as an officer or director of a public
company, or practicing as an accountant on behalf of any entity
regulated by the SEC, the agency said.
The SEC formed a task force last year to police accounting
fraud. SEC Chair Mary Jo White said last month the agency had
related investigations under way.
(Reporting by Aruna Viswanatha; Editing by Peter Cooney)