A former partner at the accounting firm BDO USA LLP has pleaded guilty to criminal charges for lying to Securities and Exchange Commission investigators, SEC officials said today.
Bryan N. Polozola, a CPA who resides in Richardson, Tex., and BDO were subpoenaed by the SEC last year as part of an investigation of several hedge funds for which they acted as auditors.
The SEC alleged that Polozola lied to SEC staff about allegations he took $49,350 in funds from a former employer for his own personal use in 2005. Polozola was banned from the securities industry over the alleged payment by the National Association of Securities Dealers, the predecessor of Finra, under a consent agreement with Polozola. Polozola neither admitted nor denied the allegations in consenting to be permanently barred from associating with any securities firm.
"This guilty plea is a stark reminder that those who lie in SEC investigations will face an SEC committed to working closely with the criminal authorities to ensure that they are held accountable," said Robert Khuzami, director of the SEC's Division of Enforcement.
Polozola pleaded guilty to making a false statement to government officials. Judge Robert L. Wilkins of the U.S. District Court for the District of Columbia has scheduled a sentencing hearing for March 26.