Judge acquits ex-Engine Co. executives in accounting fraud lawsuit

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By Celeste Bott (September 20, 2021, 7:54 p.m. EDT) – An Illinois federal judge on Monday declared the former CEO and two other high-ranking former employees of an alternative-energy engine maker not guilty of any charges alleging that they had fraudulently inflated the company’s income through a scheme that caused the company’s books to reflect the money it had not yet collected.

Following a four-week in-person trial in Chicago, U.S. District Judge Robert Gettleman released his ruling on Monday morning and found former Power Solutions International CEO Gary Winemaster, former CEO James not guilty. Needham and former business manager Craig Davis. securities fraud and electronic fraud. Winemaster was also found not guilty of …

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