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by Mike Caswell

A North Carolina judge has convicted former Swisher Hygiene Inc. executives Michael Kipp and Joanne Viard for an accounting fraud that led to the demise of the one-time Toronto Stock Exchange listing. The judge has found that the pair manipulated the company's books to hit predetermined earnings targets. They did so with Mr. Kipp in line for a substantial bonus should the company meet those targets.

The verdict was delivered on June 20, 2017, by U.S. District Court Judge Max Cogburn. He has found Mr. Kipp, 63, guilty on charges of conspiracy, wire fraud, securities fraud and bank fraud. He convicted Ms. Viard, 38, of conspiracy, while acquitting her on other counts. The verdict comes after a three-week trial that began in February, 2017.

In convicting the pair, the judge has determined that they were behind a series of fraudulent accounting entries that took place in 2011. Mr. Kipp, a certified public accountant who served as Swisher's chief financial officer, was the architect of the scheme. Ms. Viard, who was the company's director of external reporting, was a willing participant, making many suggestions about ways to manipulate the earnings figures.

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