SEC Charges Texas School District and its Former CFO with Fraud in $20 Million Bond Sale
The SEC also charged Crosbys auditor, Shelby Lackey, with improper professional conduct in connection with the audit of the school districts 2017 fiscal year financial statements.
- The SEC also charged Crosbys auditor, Shelby Lackey, with improper professional conduct in connection with the audit of the school districts 2017 fiscal year financial statements.
- Crosby ISD and Merka knowingly included the false and misleading financial statements in the offering documents used to raise $20 million through the sale of municipal bonds in January 2018.
- The SECs complaint against Merka, filed in U.S. District Court for the Southern District of Texas, charges her with violating the antifraud provisions of the securities laws.
- The SEC acknowledges the assistance of the Harris County District Attorneys Office.