Tagged: Kraft procurement fraud

Kraft Foods Agrees to Pay $62 Million for Misstatements in Financial Report

Kraft Foods Agrees to Pay $62 Million for Misstatements in Financial Report

Recently, the SEC announced a settlement with Kraft Foods for $62 million and with two Kraft executives for financial reporting misstatements.  Along with the corporate settlement with Kraft, the SEC announced proposed settlements with Kraft’s former COO Eduardo Pelleissone and its former Procurement Officer Klaus Hoffman for their roles in the reporting fraud. During the period of 2015 to 2018, Kraft committed various accounting misconduct,...