In The Wall Street Journal, Dan O’Connor Discusses CFO Liability in Light of Trump Organization Charges
In The Wall Street Journal, litigation & enforcement partner Dan O’Connor discussed what liabilities CFOs can face in connection with corporate wrongdoing. The quotes were included in an article examining charges brought by New York officials against Allen Weisselberg, the Trump Organization’s finance chief. The article notes that, depending on the charge, CFOs can be hit with hundreds of thousands of dollars in fines if the Securities and Exchange Commission pursues legal action against them. Dan said: “That money, by law, has to come out of the CFO’s pocket.” He also noted that if CFOs made money from an illicit scheme, they have to disgorge the profits with interest, the article reports.