Ex-Monster GC settles civil fraud charges
Ex-Monster general counsel Myron Olesnyckyj has settled civil fraud charges related to the employment giant's backdating share options case, the Securities and Exchange Commission (SEC) said last Thursday (5 April). Olesnyckyj was charged by the US regulatory body in February with backdating stock options grants from 1997 to 2003 and misrepresenting compensation expenses for his personal profit and that of other executives at the company.
April 10, 2007 at 08:43 AM
1 minute read
Ex-Monster general counsel Myron Olesnyckyj has settled civil fraud charges related to the employment giant's backdating share options case, the Securities and Exchange Commission (SEC) said last Thursday (5 April).
Olesnyckyj was charged by the US regulatory body in February with backdating stock options grants from 1997 to 2003 and misrepresenting compensation expenses for his personal profit and that of other executives at the company.
As part of the settlement, Olesnyckyj has been suspended by the SEC from acting as an officer or director of a company. He did not admit or deny charges in the settlement.
Earlier this year, Olesnyckyj pleaded guilty to criminal charges relating to backdating chare options and agreed to pay a fine of $381,000 (£193,039) but could yet face jail.
He is the second general counsel to plead guilty to criminal charges relating to the backdating scandal after the general counsel of tech company Comverse, William Sorin, was fined $3m (£1.5m) in January.
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