SEC v. James Douglas Miller, No. LR-26120, Western District of Washington (Sept. 23, 2024) — Press Release
raw: James Douglas Miller
James Douglas Miller, No. LR-26120 (Sept. 23, 2024)
The SEC obtained a final judgment against former BBSI CFO James Douglas Miller for accounting fraud involving misclassified workers' compensation expenses, resulting in a permanent officer bar and a $35,000 penalty.
James Douglas Miller, the former CFO of Barrett Business Services, Inc., faced charges for making accounting entries that misclassified and under-reported workers' compensation expenses between 2011 and 2015. The SEC's complaint alleged violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. To resolve the matter, Miller consented to a final judgment including a permanent bar from serving as a public company officer or director and a $35,000 civil penalty.
The Securities and Exchange Commission has obtained a final judgment against James Douglas Miller, the former Chief Financial Officer of Barrett Business Services, Inc. (BBSI). Miller was charged with an accounting fraud that involved making entries to misclassify BBSI's workers' compensation expenses, leading the company to under-report costs between 201 and 2015. These accounting failures eventually forced the company to restate its annual and interim financial reports for that period. Without admitting or denying the allegations, Miller consented to a judgment that permanently enjoins him from violating various provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The settlement also imposes a permanent bar preventing him from serving as an officer or director of any public company. Additionally, Miller was ordered to pay a $35,000 civil monetary penalty to resolve the litigation.
Extracted insights
- $35K $35,000 $10K–$100K
- person final judgment
- company from serving as an officer or director of a public company
- agency Securities and Exchange Commission
- person these accounting entries
- Securities And Exchange Commission Obtains Final Judgment Against James Douglas Miller, the former Chief Financial Officer of Barrett Business Services, Inc. ("Bbsi")
- Securities And Exchange Commission Charged James Douglas Miller for his alleged role in an accounting fraud involving the company’s workers’ compensation expenses
- Securities And Exchange Commission Filed a complaint On September 20, 2018 in the U.S. District Court for the Western District of Washington
- Miller Made accounting entries To misclassify BBSI’s expenses
- These accounting entries Caused Bbsi to under-report Its workers’ compensation expenses
- Bbsi Restated its annual and interim financial reports For periods between 2011 and 2015
- Miller Consented to the entry of a final judgment Permanently enjoining him from violations of Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933 and Section 13(b)(5) of the Securities Exchange Act of 1934 ("Exchange Act") and Exchange Act Rules 13a-14, 13b2-1, and 13b2-2(b)
- Miller Consented to the entry of a final judgment Permanently enjoining Miller from aiding and abetting violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Exchange Act Rules 12b-20, 13a-1, 13a-11, and 13a-13
- Final judgment Imposed a permanent bar From serving as an officer or director of a public company
- Final judgment Ordered him to pay a civil monetary penalty of $35,000
- Securities And Exchange Commission Handled litigation By Rahul Kolhatkar and Sheila O’Callaghan, both of the San Francisco Regional Office
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26120 / September 23, 2024 Accounting and Auditing Enforcement No. 4523 / September 23, 2024 Securities and Exchange Commission v. James Douglas Miller, No. 18-cv-05761 (W.D. Wash. filed Sept. 20, 2018) SEC Obtains Final Judgment Against Former CFO for Accounting Failures On September 11, 2024, the Securities and Exchange Commission obtained a final judgment against defendant James Douglas Miller, the former Chief Financial Officer of Barrett Business Services, Inc. (“BBSI”), whom the SEC previously charged for his alleged role in an accounting fraud involving the company’s workers’ compensation expenses. The SEC’s complaint was filed on September 20, 2018 in the U.S. District Court for the Western District of Washington. The complaint alleged that Miller made accounting entries to misclassify BBSI’s expenses. These accounting entries allegedly caused BBSI to under-report its workers’ compensation expenses. According to the complaint, BBSI ultimately restated its annual and interim financial reports for periods between 2011 and 2015, which had all been originally filed when Miller was the CFO. Without admitting or denying the allegations in the complaint, Miller consented to the entry of a final judgment: (1) permanently enjoining him from violations of Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933 and Section 13(b)(5) of the Securities Exchange Act of 1934 (“Exchange Act”) and Exchange Act Rules 13a-14, 13b2-1, and 13b2-2(b); (2) permanently enjoining Miller from aiding and abetting violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Exchange Act Rules 12b-20, 13a-1, 13a-11, and 13a-13; (3) imposing a permanent bar from serving as an officer or director of a public company; and (4) ordering him to pay a civil monetary penalty of $35,000. The SEC’s litigation was handled by Rahul Kolhatkar and Sheila O’Callaghan, both of the San Francisco Regional Office.
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26120 / September 23, 2024 Accounting and Auditing Enforcement No. 4523 / September 23, 2024 Securities and Exchange Commission v. James Douglas Miller, No. 18-cv-05761 (W.D. Wash. filed Sept. 20, 2018) SEC Obtains Final Judgment Against Former CFO for Accounting Failures On September 11, 2024, the Securities and Exchange Commission obtained a final judgment against defendant James Douglas Miller, the former Chief Financial Officer of Barrett Business Services, Inc. (“BBSI”), whom the SEC previously charged for his alleged role in an accounting fraud involving the company’s workers’ compensation expenses. The SEC’s complaint was filed on September 20, 2018 in the U.S. District Court for the Western District of Washington. The complaint alleged that Miller made accounting entries to misclassify BBSI’s expenses. These accounting entries allegedly caused BBSI to under-report its workers’ compensation expenses. According to the complaint, BBSI ultimately restated its annual and interim financial reports for periods between 2011 and 2015, which had all been originally filed when Miller was the CFO. Without admitting or denying the allegations in the complaint, Miller consented to the entry of a final judgment: (1) permanently enjoining him from violations of Sections 17(a)(2) and 17(a)(3) of the Securities Act of 1933 and Section 13(b)(5) of the Securities Exchange Act of 1934 (“Exchange Act”) and Exchange Act Rules 13a-14, 13b2-1, and 13b2-2(b); (2) permanently enjoining Miller from aiding and abetting violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Exchange Act Rules 12b-20, 13a-1, 13a-11, and 13a-13; (3) imposing a permanent bar from serving as an officer or director of a public company; and (4) ordering him to pay a civil monetary penalty of $35,000. The SEC’s litigation was handled by Rahul Kolhatkar and Sheila O’Callaghan, both of the San Francisco Regional Office.