Former Delphi Corporation Treasurer and Vice President of Treasury, Mergers and Acquisitions, John Blahnik, settled charges of accounting fraud filed by the SEC. The Commission's complaint alleged that Blahnik had participated in and directed employees to engage in schemes to improperly inflate the company's reported cash flow and net income and failed to disclose material sales of accounts receivable. District Judge Avern Cohn entered final judgment on September 22, 2010 enjoining Blahnik from future violations of the federal securities laws. As part of the settlement, without admitting or denying the SEC's allegations, Blahnik was ordered to pay $100,000, which includes disgorgement, prejudgment interest, and a civil monetary penalty and was prohibited from serving as an officer or director of a public company for five years. Delphi and nine of the thirteen original defendants have now settled the SEC's charges brought against them. SEC Release