Elizabeth Salaam 7:30 a.m., April 1
Accounting Group Disciplines Former City Auditor
Last year, the California Board of Accountancy withdrew the license of the former El Cajon-based accounting firm, Calderon Jaham & Osborn. (Sorry to be so late reporting this, but I just learned of it.) The firm had been auditor of the City of San Diego in 2001 and 2002. The Securities and Exchange Commission charged it with making false and misleading statements in connection with City bond offerings that raised $261 million. Also, the accounting firm had said that audits for 2001 and 2002 were in accordance with generally accepted procedures, when they were not, charged the SEC. The Calderon firm also made materially false and misleading statements about the City's pension and healthcare obligations. The firm reached a consent decree with the SEC in late 2007, promising not to break securities laws. In 2003, the firm was bought by Costa Mesa's Caporicci & Larson, which briefly had the City auditing contract. Caporicci, in turn, has been merged into Los Angeles-based Stonefield & Josephson.
At the same time the Calderon firm surrendered its license last year, Thomas J. Saiz (pronounced Size), who headed the firm, was suspended for 30 days and ordered to take 80 hours of continuing education. He then started his own accountancy in La Mesa, but I have not been able to locate him.
More like this:
- LA Times Cites San Diego Public Corruption — Nov. 12, 2010
- Three Former City Officials Charged by SEC with Fraud Are Receiving Generous City Pensions — April 15, 2008
- SEC Charges Five Former City Officials with Fraud for Roles in False Municipal Bond Filings — April 7, 2008
- Federal Agency Charges Former City Auditing Firm with Fraud — Dec. 11, 2007
- I Have More Money Than I Could Possibly Spend in Our Lifetimes — April 18, 2002