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WASHINGTON (AP) - The former chief financial officer of Gemstar-TV Guide International Inc. will pay more than $1.3 million to settle civil charges that she participated in a scheme to inflate the company's licensing and advertising revenue.
The Securities and Exchange Commission announced the settlement with Elsie Leung, 59, on Tuesday. The former executive also accepted a permanent bar on serving as an officer or director of a public company. She settled without admitting or denying wrongdoing.
The penalty against Leung is the largest yet to be levied upon any of the executives accused of playing a role in a $250 million accounting fraud that allegedly spanned more than three years, starting in June 1999. The Los Angeles-based technology and media company's former general counsel and former co-president have already settled with the SEC.
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