History (1991): Former MiniScrive Executives Charged From SEC

The SEC in Denver, CO, has charged MiniScribe’s former chairman and CEO Q.T. Wiles, as well as 15 other members of the company to pay back an amount totaling more than $10 million.

Wiles is at the top of the list with approximately $5.8 million charges.

Last year, before it was acquired by Maxtor, MiniScribe filed for Chapter 11 for various charges from its shareholders and its creditors for falsifying financial reports. Some of the executives had put bricks in boxes and reported them as drives in the bookkeeping.

This article is an abstract of news published on the former paper version of Computer Data Storage Newsletter on issue 44, published on September 1991.