SEC Reaches Settlement with Michael Baker Corp.

The Securities and Exchange Commission reached a settlement with Moon-based Michael Baker Corp.  after the agency said an accounting executive with the company falsely claimed to be a certified public accountant.

The SEC earlier this month charged former Baker employee John Scullin, 51, with falsely representing himself as a CPA when he served as a manager for project accounting at the company from 2006 to 2008. Scullin was based in the company's Virginia offices.

The SEC reported that Scullin's improper accounting practices resulted in overstated revenue and net income for the company.

Scullin could not be reached for comment.

As a result of the settlement, Scullin agreed to pay a $35,000 civil penalty and is banned from practicing as an accountant before the commission. Michael Baker Corp. agreed to not engage in similar business practices in the future.