In 2012, Swisher, a janitorial and cleaning-supply services
company, was charged with allegations of financial wrongdoings. Now, three years later, Michael Kipp (former
CFO) and Joanne Viard (former director of external reporting) face charges of
conspiracy to defraud the United States, wire fraud, securities fraud, and
obstruction of justice.
The fraud was carried out largely so that executives could
meet earnings targets. While it may not have initially seemed like a big deal to Kipp
and Viard to commit the fraud, the investing public was put at risk, and fraud
is a crime that is punished. Jill Rose, the U.S. Attorney for the Western
District of North Carolina, made it clear that whenever there is fraud it will
be punished, and in this case the two executives may face up to 30 years in
prison.
See this article
from The Charlotte Observer for more
information.
