The Securities and Exchange Commission, U.S. Attorney Audrey Strauss of the Southern District of New York and Manhattan District Attorney Cyrus Vance Jr. on Thursday all announced cases against the former CEO and CFO of a Florida-based network infrastructure company formerly listed on the New York Stock Exchange.

Michael Palleschi and David Lethem, the former CEO and CFO of FTE Networks, Inc., have been accused of conducting an accounting fraud scheme, according to documents by the SEC filed in the Middle District of Florida. The duo allegedly inflated FTE’s revenues “by essentially inventing approximately $12.5 million of revenue and related accounts receivable,” SEC Senior Trial Counsel Robert K. Levenson wrote.

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