Former Sigma CEO Elmo de Alwis faces jail for falsifying company books

 In Australia, NewZealand, Pharmacy
The former chief of Sigma Pharmaceuticals, Elmo de Alwis, could face jail time after pleading guilty to falsifying the company’s accounts in 2009 and 2010.
Mr de Alwis pleaded guilty on Thursday to two charges of falsifying the company’s half-year and full-year accounts for the 2010 financial year in connection to the drug company’s purchase of two new medicines in 2009.
Sigma’s former chief financial officer, Mark Thomas Smith, also pleaded guilty to the charges.
One of the charges to which Mr de Alwis and Mr Smith pleaded guilty relates to the over-statement of Sigma’s revenue, inventories, pre-payments and profit after tax in the company’s full-year accounts for the year ending January 2010.  Sydney Morning Herald – Read more…

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