IBM Settles SEC Charges Involving Dollar General

The SEC announced the filing of a  settled  civil  action against Kevin  B.  Collins,  an  employee  of  IBM, for aiding  and  abetting  Dollar  General Corporation's commission of accounting fraud. The Commission filed the civil action against Collins in the United States District  Court  for the Middle District of Tennessee. As set  forth  in  the  Commission's complaint, Collins assisted Dollar General's commission of  accounting fraud through a sham  transaction  that  was  designed  to achieve   a particular accounting result  for  Dollar  General.  Also  today,  the Commission instituted a settled  cease-and-desist  proceeding  against IBM for its role in the Dollar General fraud and for IBM's  own books and records violations.