Date: November 8, 2007
Source: News Room
Former Safety-Kleen chief financial officer Paul Humphreys has been sentenced to five years and 10 months in prison after admitting to securities and bank fraud charges. Humphreys was accused of artificially inflating earnings in 1998, 1999 and 2000 to meet Wall Street analysts' expectations and to meet earnings targets that were set when the company was acquired by Rollins Environmental Services Inc. in 1998. Safety-Kleen filed for bankruptcy in 2000.
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