Ex-KPMG exec to settle claims
A former KPMG executive will pay $80,000 to end claims that he helped Peregrine Systems Inc. defraud investors, the Securities and Exchange Commission said.
Larry Rodda, a former managing director at the accounting firm’s consulting arm, agreed to the fine without admitting or denying wrongdoing, the agency said. The SEC, in a 2004 lawsuit naming Rodda and eight others, said he knowingly signed four sham software agreements in 1999 and 2000 that let San Diego-based Peregrine improperly record $22 million in revenue.
In 2004, Rodda pleaded guilty to one count of conspiracy to commit securities fraud, wire fraud, bank fraud and falsification of records. He was sentenced Jan. 23 to six months in prison and six months of home detention.