The former CEO of Iconix Brand Group faces federal charges of securities fraud and falsifying the company’s earnings. Last month, the man settled a dispute with rapper Jay-Z. Federal authorities revealed the indictment earlier this month. The NASDAQ halted trading of the company’s stocks following the announcement.
According to federal prosecutors, the executive conspired with the company’s former Chief Operating Officer to inflate the company’s earnings in 2013 and 2014. The company hid the overstatements by completing a series of fraudulent transactions in Asia. The company’s former Chief Operating Officer pleaded guilty to federal charges and agreed to cooperate with federal prosecutors.
Iconix licenses a wide range of clothing brands, including Candie’s, London Fog, Ed Hardy, Starter, Fieldcrest, Umbro, Mossimo, Cannon, Danskin, Ocean Pacific and Joe Boxer, among others. The company’s current CEO recently stated that the company is cooperating with the Securities and Exchange Commission.
The former CEO faces 10 federal charges, including conspiracy, conspiracy to destroy records, making false filings with the SEC and securities fraud. Through his attorneys, the man maintains his innocence. He also says that company lawyers approved all transactions. Federal prosecutors say that the man fraudulently inflated the value of the company, lied to auditors and to the SEC, and tried to destroy evidence.
Los Angeles securities fraud lawyer
If you’re facing federal prosecution related to investment crimes, you need an experienced securities fraud attorney like Robert Helfend. Mr. Helfend has 35 years of experience in criminal defense, and takes cases in courtrooms throughout Southern California. He also takes cases in any federal circuit in the United States.
Federal prosecutors are aggressive. Your best defense begins with an aggressive, experienced federal defense lawyer. Robert Helfend knows what it takes to defend his clients from zealous federal prosecutors.
Many federal defendants believe that their only option is to plead guilty in a federal case. That’s not always true. Don’t plead guilty without fully understanding the case against you.
Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273-5611 for an immediate consultation on your Los Angeles County securities fraud case.
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