Lawfuel.net – PREET BHARARA, the United States Attorney for the Southern District of New York, and JANICE K. FEDARCYK, the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced today the arrests of TODD HANSEN, the former President of the United States division of one of the world’s largest outdoor advertising companies (the “Company”), and JAMES BUCKLEY, the former Finance Director of the Company.
HANSEN and BUCKLEY are accused of engaging in a five-year, $19.75 million accounting fraud scheme to make it appear that the Company was meeting certain performance targets when it was not, so that they could receive higher salary increases, bonuses, and stock options. HANSEN will surrender in California tomorrow and appear in Magistrate Court in the Central District of California. BUCKLEY was arrested this morning in New Jersey and will appear in Magistrate Court in the Southern District of New York later today.
