Nice to see the SEC getting into the spirit of things:
As alleged by the SEC, RTI’s reliance on pull-forwards cannibalized future revenue streams and damaged important customer relationships while the company reassured investors it was meeting revenue guidance...
That is an old and creepy story from memory. Unfortunately it is common practice to bill clients as if items were already shipped..when instead they were stashed up to 30 days(not effecting the billing cycle). You just needed to hide it at the site(warehouse/storage..etc) to defeat auditors. So I am curious as to how they pulled that off given the items of concern. It seems as they just went ahead and shipped it to sight way ahead of schedule. Really creepy story...and I remembered it when reading this...:
materials purchased at local hardware stores, such as PVC pipes and rubber gloves
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