NEW YORK–The U.S. Securities and Exchange Commission wants to penalize former Kmart Chief Executive Officer Chuck Conaway $22.6 million for lying to investors about Kmart’s financial condition, according to a report from Reuters.
The report said that the SEC requested, in a filing with U.S. District Court for the Eastern District Court of Michigan, that the court ask for Conaway to return $13.7 million and impose an $8.9 million civil penalty on him.