Judge Mulls Detention of Ex-Beazer Homes Exec

Michael Rand, former chief accounting officer for Beazer Homes, indicted on 11 charges; alleged to have cooked the books for Beazer; also, securities fraud, obstruction of justice, witness tampering. WSJ article has some background info on Beazer's past settlements for lending practices, etc., as well.

Aug. 27, 2010 Article: http://www.observer.com/2010/wall-street/judge-mulls-detention-ex-beazer...

Another Aug. 27, 2010 Article: Judge Weighs Release of Former Beazer Executive: ... The indictment represents the first criminal charges brought against a former Beazer executive as part of long-standing series of investigations into the company dating to 2007. Mr. Rand, who was fired by Beazer in the midst of federal probes of the company...Beazer settled civil charges related to its accounting practices brought by the Securities and Exchange Commission in 2008 without admitting any wrongdoing. In 2009, the builder agreed to pay $53 million to the federal government and victimized homeowners related to excesses during the subprime boom. A joint federal probe by the Federal Bureau of Investigation and the U.S. Department of Housing and Urban Development found that Beazer's mortgage lending unit had violated federal regulations by giving government-backed loans to buyers who couldn't afford them.
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