Ocwen
SEC contacted for investigation, Sarbanes Oxley violations

Alan70
08-25-2004
7

The SEC has been notified that Ocwen has intentionally and willfully falsified, obfuscated and deleted data that shows the Material Weakness in the IT practices and effect the companies finicial reporting as described in Sarbanes Oxley 404 requirements.

Ocwen IT staff did knowingly delete data that showed uptime for the RealSuite of Applications to maintain and provide finicial information.

Ocwen IT staff did at the specific instruction of the CIO willfully delete a 1 year time frame of Uptime for the entire set of RealSuite applications.

This uptime data supported several lawsuits that specifcally show Ocwen illegal accounting practices. Ocwen executive management has in fact threaten legal action if this information was disclosed in violation of the Whistleblower Act.