前ARCP首席财务官对刑事证券欺诈指控不认罪bob200体育

Brian S. Block, the ex-CFO of American Realty Capital Properties Inc., now called Vereit, has pleaded not guilty to criminal charges that accuse him making false filings with the SEC, making false certifications, securities fraud, and conspiracy to commit securities fraud. His criminal trial is scheduled for May 2017.

The U.S. Department of Justice had filed the charges against Block earlier this month. He was arrested at his home in September.

According to a statement issued by Manhattan U.S. Attorney Preet Bharara, Block is accused of knowingly misleading the public and doing so through material misrepresentations about a key metric for evaluating the real estate investment trust’s 2014 financial performance. The government claims that Block overstated, by approximately $13M, the “adjusted funds from operations” for that year. As a result, the public thought that ARCP was performing better than how it was actually doing.

In a parallel civil case, the SEC accused Block and Lisa McAlister’s, ARCP’s ex-chief accounting officer, with masterminding a scam to manipulate how $20B of ARCP’s AFFO was calculated. AFFO stands for adjusted funds from operations. This is the non-GAAP measure employed by ARCP for providing guidance about earnings.

尽管内部会计人员警告说，错误的方法被用来计算REIT在2014年第一季度财务业绩的AFFO，但Block继续伪造ARCP的AFFO演示，然后在第二季度提交结果。麦卡利斯特在这次提交时与他同在。据称，第二季度的文件隐藏了该演出在第一季度被夸大了。这种操纵使ARCP似乎在没有时实现了第二季度的估计。联邦调查局助理总监小威廉·斯威尼（William Sweeney Jr.）表示，这使投资者处于“劣势”。

麦卡利斯特（McAlister）已经对她的参与表示认罪，包括阴谋和证券欺诈。bob200体育

Our REIT fraud lawyers are here to help individual investors and institutional investors recoup their securities losses. Contact us today.

ARCP的前首席财务官被控欺诈，Justice.gov，2016年9月8日

行政人员负责膨胀REIT的性能, SEC, September 8, 2016

Ex-CFO at REIT formerly controlled by Nicholas Schorsch pleads not guilty to securities fraud, other charges, InvestmentNews, September 28, 2016