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Former Beazer CFO to Return $1.4 Bln

OLeary settles SEC suit over payments received after company filed fraudulent financial results.

By Joel Rosenblatt, Laurence Viele Davidson, Bloomberg | Updated on August 31, 2011

The U.S. Securities and Exchange Commission settled a suit with Beazer Homes USA Inc.’s former finance chief over stock-sale bonuses he got while the homebuilder’s accounting statements were out of compliance with federal law.

James O’Leary, the ex-CFO, must reimburse the company more than $1.4 million that he received after Beazer filed fraudulent financial results for fiscal 2006, the SEC said today in a statement. The agency accused the Atlanta-based homebuilder of falsifying reports to overstate income.

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