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SEC fines Synchronoss’ former CFO Karen Rosenberger $125K due to accounting misconduct | CFO

Six other Syncrhonoss employees also received various civil penalties, while the former CEO had to reimburse the company $1.3 million in stock sale profits and bonuses.

Without admitting or denying the various allegations, Rosenberger consented to a final judgment which will include $125,000 in civil monetary penalties, to reimburse the company $430,000 in compensation, and a permanent injunction, barring her from serving as an officer or director, according to the SEC. Additionally, the SEC alleged Rosenberger covered her tracks by lying to its auditor Ernst & Young, falsifying the books and “failing to implement or maintain, and circumventing” the company’s system of accounting controls. Ronald Prague, the company’s general counsel at the time, paid a civil penalty of $25,000 and was suspended from practicing as an SEC attorney for 18 months.

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