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Former Waste Management executive settles fraud charges

Waste Management's former vice president of finance, Bruce Tobecksen, has settled fraud charges arising from the co...


Waste Management’s former vice president of finance, Bruce Tobecksen, has settled fraud charges arising from the company’s $1.7 billion earnings overstatement from 1992 to 1997. According to the U.S. Securities and Exchange Commission, Tobecksen will pay more than $809,000 in civil penalties and other fines to settle charges that he worked with other top officers in concocting the scheme. Tobecksen did not admit or deny the commission’s allegations, a common practice in SEC settlements.

Source: Solid Waste Digest, a division of Environmental Business International Inc. in San Diego, California. Call 619-295-7685.


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