Daily Archives: January 7, 2017, 10:40 am

Former Vice President of Publicly Traded Company Charged with Orchestrating $100 Million Securities Fraud Scheme | DoJ

The indictment alleges that between November 2011 and December 2012, Kostelecky, the sole executive in Poseidon Concepts Corporation’s U.S. division, engaged in conduct that caused the company to falsely report approximately $100 million in revenue from purported contracts with oil and natural gas companies. Kostelecky’s alleged misconduct included fraudulently directing the company’s accounting staff at the U.S. corporate headquarters in…

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