ACCOUNTING FRAUD

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Baton Holdings agrees to $28 million fine to settle Bankrate fraud scheme

Mar 11, 2019By

As Bankrate’s successor in interest, Baton Holdings has agreed to pay $28 million to settle the accounting fraud charges against Bankrate. Baton admitted that former Bankrate executives inflated earnings, which led to at least $25 million in losses for shareholders, and agreed to pay a penalty and restitution to settle the case.