SEC Sues Terex’s Former CFO

NEW HAVEN (CN) - As CFO of Terex Corp., Joseph Apuzzo aided and abetted accounting fraud in two improper sale-leaseback transactions with United Rentals and its CFO Michael Nolan, though which United inflated its profits for two years, the SEC claims in Federal Court. Apuzzo did it to report large year-end sales and improve Terex's books by prematurely recognizing the revenue, the SEC says. See complaint.

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