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GlobeTel Strikes Deal With SEC In $119M Fraud Case

By Megan Stride ( December 22, 2010, 3:49 PM EST) -- GlobeTel Communications Corp. has agreed to shell out a $300,000 civil penalty, hire a chief financial officer and establish an audit committee in order to duck out of the U.S. Securities and Exchange Commission's lawsuit accusing the company and a group of its former employees of faking $119 million in revenues....

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