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Comscore CEO faked their own numbers, fined by the SEC

SEC fines Comscore CEO over cooking its own books between 2014-2016

By Anthony Garreffa on Sep 25, 2019 12:20 am CDT - 1 min, 0 secs reading time

Let's see how deep the rabbit hole we're about to go, with the SEC fining Comscore and its former CEO Serge Matta over fluffing its own books and committing fraud.

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Comscore -- whose performance metrics on websites is widely used across the world, has its former CEO admitting to fraud as he artificially inflated revenue by $50 million by fluffing numbers between 2014 and 2016, with Matta reportedly seeing Comscore join "non-monetary transactions" that would see the company giving data without expecting money.

The inflated sense of that value was reported as revenue, with Matta lying to both accountants and auditors -- these moves however, made it seem like Comscore was rocketing nowhere but towards the sky.

The SEC has thus fined Comscore penalties of $5 million, while Matta will pay $700,000 as well as another $2.1 million from the profits he made selling company stocks and other compensation during his time with his crayons all over Comscore's books. Matta is also banned from being the director or officer of a public company for the next 10 years.

But don't worry, as Comscore has new leadership and internal procedures which will now ensure this doesn't happen again.

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Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:techcrunch.com

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