Michael T. Rand, Accounting Fraud Conspiracy, North Carolina 2014

A federal judge in Charlotte, North Carolina, has handed down a 10-year prison sentence to Michael T. Rand, the former Chief Accounting Officer for Beazer Homes USA, Inc., for his role in a seven-year accounting fraud conspiracy.

Rand, 52, of Sandy Springs, Georgia, was sentenced by U.S. District Judge Robert J. Conrad, Jr. to 120 months in prison and three years of supervised release on conspiracy and obstruction of justice charges.

The charges against Rand arise from a government investigation into Beazer and its employees that began in March 2007. In July 2009, Beazer was charged with participation in the conspiracy and securities fraud, and accepted responsibility for those charges in a deferred prosecution agreement.

The agreement required Beazer to pay $50 million in restitution. Rand was indicted by a federal grand jury in August 2010.

A federal jury found that Rand directed an accounting fraud conspiracy to falsify reported profits at Beazer by lying to auditors, fraudulently achieving earnings targets, falsifying books and records, and deceiving the public. Rand was convicted of conspiracy to commit securities fraud, to make false and misleading statements to auditors and accountants, to circumvent Beazer’s internal accounting controls, and to falsify the books, records, and accounts of Beazer.

Rand’s sentence reflects the seriousness of his offense and underscores the U.S. Attorney’s office’s commitment to protecting Americans from corporate corruption and financial malfeasance.

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