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Former CFO of California Chip Maker Settles over Inflating Earnings.
Knight Ridder/Tribune Business News, September, 2003
By Sue McAllister, San Jose Mercury News, Calif. Knight Ridder/Tribune Business News
Sep. 12--The former chief financial officer for graphics chip maker Nvidia will pay nearly $672,000 in penalties after settling charges that she fraudulently inflated company earnings in 2000 to meet Wall Street expectations, the Securities and Exchange Commission announced Thursday.
In settling the civil fraud charges, Christine B. Hoberg, 48, of Los Altos agreed to pay a total of $671,694.99 in fines and for "disgorgement of ill-gotten gains" and will be prohibited from serving as an officer or director of any public company for five years. Hoberg neither admitted nor denied the charges.
In a separate proceeding announced Thursday, Nvidia of Santa...
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