Egan, Jack – New Rochelle, NY

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Egan’s AICPA membership was terminated, effective October 29, 2014, in connection with the disciplinary action taken by the Securities and Exchange Commission (SEC). Specifically, the SEC suspended Mr. Egan from appearing or practicing before the Commission as an accountant. This decision was based on the SEC’s allegations that Mr. Egan knew or was reckless in not knowing that recognition of fraudulent revenue did not comply with Generally Accepted Accounting Principles  in connection with a “Company’s” financial statements; and that nevertheless, Mr. Egan signed the “Company’s” public filings and included the revenue in the “Company’s” financial statements for the fourth-quarter and fiscal year ended October 28, 2007; and for certifying the “Company’s” annual Reports on Forms 10-K for its fiscal years ended 2007 and 2008, when he knew or was reckless in not knowing that the financial statements were materially false and misleading.