Mayer Hoffman McCann faces a hearing on a possible cease-and-desist order from the SEC over a client's owning the stock of the accounting firm's partner, CBIZ. The SEC says the trader-broker client Tradebot's owning the stock meant that MHM's independence was impaired for its audits of Tradebot's financial statements for 2008 through 2012. The hearing of issuing an order will be held within 30 to 60 days of a September 25 notification by the SEC.

The Department of Justice has filed eight civil injunction suits in Florida seeking to close regional tax preparation firm LBS Tax Services. The suits allege systematic and pervasive fraud on the part of founder Wainer G. Gachette, seven LBS franchisees and three LBS tax services managers at the 239-store chain. 

A Pennsylvania CPA who falsified tax documents to help a mobster get a mortgage loan has been sentenced to 40 months in prison. Howard Drossner of Amber, Pa., had pleaded guilty to a charge of conspiracy to commit wire fraud in a case that involved Lucchese organized crime family member Nicodemo "Nicky" S. Scarfo. But Drossner's involvement went far beyond that act the government said.