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Ex-Delphi Executives Owe $333,500 for Record Keeping Breach

Former Delphi Corp. Chief Executive Officer J. T. Battenberg III must pay a $215,000 for violating U.S. securities laws by misrepresenting a $237 million payment to General Motors Corp., a U.S. judge ruled.

U.S. District Judge Avern Cohn in Detroit today entered that judgment against Battenberg and a $118,500 sanction against former top Delphi accountant Paul Free. A Detroit jury in January found them men misrepresented the GM payment and found Free committed wrong-doing in three other transactions in 2000 and 2001.