The U.S. District Court for theNorthern District of Illinois has entered a final judgment against James E.Koenig, the former CFO of Waste Management, after a jury found that hecommitted 60 securities laws violations in a five-year period.
The final judgment followed atwo-day bench trial on remedies before U.S. District Court Judge Wayne R.Andersen. The sentence permanently bars Koenig from acting as an officer ordirector of a public company, enjoins him from future violations of theantifraud and other provisions of the federal securities laws, and requires himto pay more than $4 million in disgorgement, prejudgment interest, and civilpenalties.
The final judgment followed an11-week jury trial in 2006 that resulted in a verdict in the Securities and Exchange Commission’s favoragainst Koenig on all charges. The jury found Koenig liable for securitiesfraud, falsifying company books and records, lying to auditors, and aiding andabetting the company’s violations.