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BRIEF-U.S. announces criminal charges against ex-CEO, ex-CFO of tech start-up KIT Digital for inflated financials

Published 09/09/2015, 07:25 am
Updated 09/09/2015, 07:27 am
© Reuters.  BRIEF-U.S. announces criminal charges against ex-CEO, ex-CFO of tech start-up KIT Digital for inflated financials

Sept 8 (Reuters) -

* U.S. announces criminal charges against former CEO, former CFO of technology

start-up kit digital

* U.S. says former CEO kaleil isaza tuzman was arrested in Colombia on market

manipulation and accounting fraud charges

* U.S. says former CFO robin smyth was arrested in Australia on accounting

fraud charges

* U.S. says both defendants being held in countries where they were arrested

pending extradition proceedings

* U.S. accuses the defendants of misleading investors about the health of kit

digital, which was publicly traded

* U.S. says the fraud caused kit digital to overstate assets and understate

losses in its 2011 annual report

* U.S. Securities and Exchange Commission files related civil charges against

both defendants -- court filing

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