Via Going Concern: Internet Pimps Need to Exercise IndependenceToo
The Internet wins again
with SFW porn
The code of conduct for porn professionals is no different if they are engaged in accounting. Right? Wait, is that the code of conduct for accounting professionals engaged in porn? No wonder the SEC went after their asses, this accounting is serious business and there's no mixing business with pleasure.
Though this has been going on since 1999 (for the love of sweet baby Jesus, SEC, I was still on ICQ back then), the SEC is just now getting around to it. Now might not be the most appropriate time for the SEC to be tackling anything related to porn, even if it is fraud-related. Someone should tell the SEC about SFW porn. Anyway...
Let it be known that if you are peddling porn and engaged in online pimping, you do not want the SEC on your back.
WebCPA reports that Stephen Corso of Las Vegas and Brian Rabinovitz of Oak Park, CA got the SEC smack down in a Nevada federal court for filing materially false and misleading financial statements from 1999 – 2002 (that’s quite a backlog) and that audit staff – under the boys’ supervision – omitted important info and violated the sanctity of auditor independence during audits of Exotics.com
Check out the enforcement and the rest of the smackdown on Going Concern. Sorry but the SEC did not attach any photos or mpegs with the complaint (fuck!).