An Agoura Hills accountant has had her license suspended and is ordered to pay thousands of dollars in fines due to fraudulent activity leading to the filing of false and misleading financial statements to the Securities and Exchange Commission, according to a decision by California Board of Accountancy, Department of Consumer Affairs,
Nicole Rae Kaplan, a certified public accountant, was charged with engaging in fraudulent revenue recognition practices and stock options backdating while she was Director of Finance for Vitesse Semiconductor Corporation from 2001-2006.
Kaplan was also charged with engaging in fraudulent accounting practices that materially misstated the company's annual and quarterly financial statements.
The judgment has ordered Kaplan to pay $47,495 in fines and penalties, and she can no longer practice as an accountant before the SEC.
Kaplan has not denied the charges.