Dell paying $100m in fraud accord
WASHINGTON — Computer maker Dell Inc. is paying $100 million to settle federal regulators’ charges of using fraudulent accounting to meet Wall Street earnings targets.
Under the accord disclosed yesterday by the Securities and Exchange Commission, company chairman and chief executive Michael Dell agreed to pay a $4 million civil penalty. The SEC said Dell also failed to disclose to investors large payments it received from Intel Corp. in exchange for not using equipment made by an Intel rival.
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