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The U Securities and Exchange Commi...

The U Securities and Exchange Commission forward Thursday charged former Xerox chief executive Paul A. Allaire and five other ex-Xerox Corp. executives with civil securities fraud above accounting methods that the regulator said overstated earnings for the gigantic copier maker.

The six men settl the civil suit with a $22 million payment that includes penalties and forfeiting profits, the SEC announced. They did not admit to or contradict the allegations, the SEC said.

In addition to Allaire, those charged were G Richard Thoman, former president and chief operating officer; Barry D Romeril, former chief financial officer; Philip D Fishbach, former controller; Daniel s Marchibroda, former assistant controller; and Gregory B Tayler, former director of accounting policy.

The SEC's complaint, which was filed in U District Court for the Southern District of of recent origin York, accused the ex-officials of using improper accounting regularitys to increase equipment revenue and inflate earnings.

The accounting orderly dispositions were not disclosed to investors, the SEC said.

Allaire was in Italy and unavailable for annotate said a woman who answered the phone at his Norwalk, Conn home

Messages left for Fishbach, of Rochester, NY; Marchibroda, of Madison, Conn and Tayler, of Toronto, were not immediately returned

Thoman, of Greenwich, and Romeril, of Norwalk, Conn have unlisted telephone numbers and could not be reached for comment

Christa Carone, a spokeswoman for Xerox in Rochester, NY said the company "completely changed management" in the last couple years.

Xerox headquartered in Stamford, Conn last year agreed to pay a record $10 million civil penalty and revise financial statements back to 1997 to fix federal regulators' allegations of accounting fraud.

The SEC su Xerox in federal court in recently made known York, alleging that the company used a variety of what it called "accounting tricks" and "accounting opportunities" to increase its earnings by means of some $1.5 billion and conceal its performance from investors.

The SEC said in legal documents Thursday that the former Xerox officials used accounting measures at the last of each financial reporting period from 1997 to 2000 to shut up a gap between the company's underlying earnings and its internal targets and those of Wall road analysts.

Allaire, who is barred for five years from serving as a corporate officer or director, announced he will resign from the boards of resplendent Technologies Inc. and Priceline.com Inc., the SEC reported Thursday.

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