Federal and International

CEO of Schaumburg Consulting Firm Arrested on Fraud Charges

Seal of the United States Department of Justice fraud
Seal of the United States Department of Justice. (Wikipedia)

Chicago, IL-(ENEWSPF)- The chief executive of a publicly-traded consulting firm has been charged in federal court with fraud, allegedly fraudulently misrepresenting the company’s financial condition and lying to regulators.

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NANDU THONDAVADI, the CEO of Schaumburg-based Quadrant 4 System Corp., intentionally misrepresented the firm’s cash flow and concealed its liabilities in filings with the U.S. Securities and Exchange Commission, according to a criminal complaint and affidavit filed in…

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