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A former chief financial officer of energy company Dynegy Inc. is paying $376,560 to settle federal regulators' charges that he played a role in an alleged $300 million fraudulent accounting scheme in 2001.
The Securities and Exchange Commission announced the settlement with the former finance chief, Robert Doty Jr., who agreed to pay a civil fine of $120,000 and restitution of $200,000 plus $56,560 in interest. Doty also was barred for five years from serving as an officer, director or accountant of any public company.
Two other former Dynegy executives, former vice president of taxation Gene Foster and former in-house accountant Helen Sharkey, also settled the SEC's charges.
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