Ex-Terex CFO Apuzzo Rejected by High Court on SEC Claims

The U.S. Supreme Court rejected an appeal by Joseph Apuzzo, the former chief financial officer of Terex Corp., letting the Securities and Exchange Commission press ahead with claims that he aided an accounting fraud.

The justices today left intact a federal appeals court decision that said the SEC had adequately alleged that Apuzzo provided substantial assistance to the scheme.

The SEC claims Apuzzo helped United Rentals Inc., an equipment-leasing company, carry out two fraudulent sale and leaseback transactions in 2000 and 2001.

Terex, an equipment-manufacturing company, is based in Westport, Connecticut. United Rentals is based in Greenwich, Connecticut.

The case is Apuzzo v. Securities and Exchange Commission, 12-1118.