SEC And Former Raytheon Execs Settle
The Securities and Exchange Commission claim that three former Raytheon Co. executives from 1997 to 2001 disguised the aircraft division's weakening fiscal situation. Now, three previous Raytheon executives -- former CFO Franklyn A. Caine, former Controller and Lead Auditor Edward S. Pliner, and former CFO James E. Gray -- will pay $1.5 million to settle charges of their participation in that act without admitting or denying the allegations, according to the Associated Press. Caine and Pliner will pay civil penalties of $125,000 and $150,000, respectively along with restitution of past bonuses, plus interest. Raytheon last June agreed to pay a $12 million fine to settle. Former Chairman and CEO Daniel Burnham at that time agreed to pay $1.2 million and Aldo Servello, then-deputy CFO and controller, agreed to pay $34,628.