Fiorentino Settles With Government

Former Systemax executive Gilbert Fiorentino has reached a settlement with the Securities and Exchange Commission under which he will pay a $65,000 fine and agree to a ban on serving as an officer or director with any public company, the Associated Press reported.

The TigerDirect founder and former CEO of Systemax’s technology products group, Fiorentino agreed to resign from the company in May of 2011 and return $11 million in assets, most of which were company shares.

Fiorentino, according to the account, failed to disclose side payments, over a nearly five-year period, from firms that did business with the company, as well as stealing company merchandise.

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