The Securities and Exchange Commission charged a Kansas company that manages government websites, as well as four current and former executives, including two finance executives, for failing to disclose more than $1.18 million in perquisites to the former chief executive officer.
The Commission alleges that NIC filed false and misleading proxy statements, annual reports and registration statements that failed to disclose Jeffrey Fraser's benefits and falsely represented he worked virtually for free from 2002 until 2005, and continued to materially understate the benefits Fraser received in 2006 and 2007.
