Former Monster COO Charged With Fraud
The former chief operating officer of Monster Worldwide was arrested yesterday, charged with backdating stock option grants to employees between 1997 and 2003.
James Treacy, 50, of Glen Rock, N.J., was charged with conspiracy to commit securities fraud, filing false reports with the Securities and Exchange Commission, making false statements to auditors, and falsifying books and records.
An indictment in U.S. District Court in Manhattan accused him of conspiring with others to backdate millions of dollars' worth of employee stock option grants.
An SEC complaint filed in New York sought to force Mr. Treacy to give up any illegal gains, impose financial penalties, and ensure Mr. Treacy could not commit financial wrongdoing in the future.
His lawyer, Evan Barr, said: "Mr. Treacy is completely innocent of these charges and looks forward to being vindicated at trial."
