By AP
St. Louis, MO. – Federal securities regulators are suing a former executive with a St. Louis-based provider of payroll-related and human resources services, alleging fraud.
The Securities and Exchange Commission filed the federal lawsuit last week in St. Louis against Craig Cohen, the former chief financial officer with TALX Corporation. The SEC says Cohen engaged in fraudulent accounting practices.
Last week, the SEC accepted TALX's offer to pay $2.5 to settle its investigation. Also, the company's president and CEO will surrender roughly $860,000 dollars and pay $100,000 in penalties over the same accounting issues.
Last year, TALX restated its financial statements for fiscal years 1999 to 2003 after finding errors in the way it booked revenue.