Safety-Kleen Settles SEC Fraud Charges

The Securities and Exchange Commission said it settled charges of accounting fraud against hazardous waste collector Safety-Kleen Corp.

The SEC said it filed a civil complaint against the Columbia, S.C.-based company alleging that four former officers overstated revenue and earnings in financial reports and press releases from November 1998 through March 2000.

The company and two former officers settled the charges without admitting wrongdoing.

Also, federal prosecutors in New York said they filed related criminal charges against former Chief Financial Officer Paul Humphreys.

A Safety-Kleen spokesman could not be reached for comment.