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Judge Approves $100 Million Dell Settlement

Posted by samzenpus on from the pay-up dept.

crimeandpunishment writes "It's official. Dell will pay the US government $100 million to settle fraud charges. CEO Michael Dell will personally pay a $4 million fine. A federal judge approved the settlement after Michael Dell assured him the company will deliver on the reforms it promised. Dell was accused of pumping up its profits over five years by improperly using payments from Intel, in order to meet Wall Street targets."

4 of 72 comments (clear)

  1. Payments from Intel? by rbarreira · · Score: 3, Interesting

    Might those "payments from Intel" be related to Intel's attempts to keep AMD CPUs out of the market place as much as possible?

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  2. Just from intel? by Anonymous Coward · · Score: 1, Interesting

    Maybe the judge cares about the middle class and when he saw that in order to save up this possibility, Dell had frozen all raises and bonuses that people had been promised?

    Oh, I have to redact that - i'm lower class... work for them... and make around 40k a year, and have probably talked to a couple of you.

  3. Re:Oh Dell by compro01 · · Score: 2, Interesting

    The reason why Dell's monitors are good is because they aren't made by Dell. Your monitor was actually made by Samsung. They also rebrand BenQ and LG monitors.

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  4. What about SOX??? by danwiz · · Score: 2, Interesting

    Wasn't SOX (also know as the 'Corporate and Auditing Accountability and Responsibility Act') supposed to prevent such financial accounting fraud?

    Sarbanes–Oxley Section 802: Criminal penalties for violation of SOX

    Whoever knowingly alters, destroys, mutilates, conceals, covers up, falsifies, or makes a false entry in any record, document, or tangible object with the intent to impede, obstruct, or influence the investigation or proper administration of any matter within the jurisdiction of any department or agency of the United States or any case filed under title 11, or in relation to or contemplation of any such matter or case, shall be fined under this title, imprisoned not more than 20 years, or both.