Ex-Polycom CEO Hid Perks From Investors, SEC Charges

The Securities and Exchange Commission on Tuesday charged former Polycom Inc. Chief Executive Andrew Miller with using nearly $200,000 in corporate funds for personal perks not disclosed to investors. Miller, the SEC alleges, created hundreds of false expense reports with bogus business descriptions to pay for personal meals and entertainment including professional baseball and football games. Polycom, a Silicon Valley-based technology firm, settled separate SEC charges about inadequate internal controls without admitting or denying the SEC findings. The agency said the case against Miller continues in federal court.