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Former Raytheon Execs Pay $1.5 Million to Settle Accounting Case

The Securities and Exchange Commission on Thursday said that former officials of Raytheon would pay $1.5 million to settle accusations of improper accounting practices involving the company's commercial aircraft manufacturing subsidiary.

The settlement was reached with former Raytheon chief financial officer Franklyn Caine; former controller Edward Pliner; and former chief financial officer of Raytheon Aircraft James Gray, the SEC said in a statement. The former officials did not admit or deny any wrongdoing as part of the settlement.

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