Name and Shame
Name and Shame



This complaint was posted on NAS on 4th Jan, 2021 and is a permanent record located here: .

NameandShame Author
The Activist Accountants
4th Jan, 2021

The Horrific Reality Of Belden Inc (Dennis Wiser)

Belden Inc and (Dennis Wiser ,CPA) tried to play smart with their investors and was caught red handed by none other than U.S. Securities And Exchange Commission.

Latest SEC AAER has shocked Belden Inc and (Dennis Wiser ,CPA) investors who feel misled and betrayed by the company’s actions. The auditors at SEC are experts at what they do, which is catch financial frauds and this time they outdid themselves by looking into the financial statements of this company.

Even if the suspension gets lifted by the time you read this, it doesn’t guarantee that this company is trustworthy. Remember, the SEC doesn’t put suspensions on a stock until something illegal happens.

On the first glance, their financial statements might seem just fine, but the devil is in the details, and after some thorough analysis, the truth is revealed. Let’s dive deeper and take a look at the official findings:

Detailed Belden Inc and (Dennis Wiser ,CPA) Scam Report

1. In 2017, Belden Inc., a signal transmission solutions company, improperly accelerated revenue at its subsidiary Grass Valley. Belden was informed of the risk of sales acceleration at Grass Valley when acquiring Grass Valley in 2014, but failed to devise and maintain sufficient internal accounting controls to prevent repeated acceleration of revenue at Grass Valley—on a small scale in 2015 and on a widespread basis in 2017. Grass Valley’s

financial results were consolidated in Belden’s books and records and reported in Belden’s financial statements. 2. Dennis Wiser, a Senior Vice President of Finance at Belden, was responsible for structuring and accounting for transactions at Grass Valley in 2017, which he knew or should have known resulted in Belden improperly recording and reporting revenue. 3. Beginning in the first quarter of 2017, Wiser participated in and approved a practice where Grass Valley shipped goods to warehouses that it paid for and controlled and improperly recognized revenue before the end of quarters when customers were not ready or unwilling to take possession of the goods they had ordered by quarter end. 4. In addition, in late 2017, Wiser arranged for Grass Valley to make purported sales totaling approximately $4.5 million to a former employee who would act as a distributor to lease or resell the goods. The former employee, however, had no experience as a distributor, no warehouse, no customers, and was unable to pay for the goods he purchased. Nevertheless, Belden, with Wiser’s authorization, improperly recorded the revenue in connection with these sales. The former employee never re-sold or leased any goods, and the products were returned to Belden after Belden decided to unwind the transactions. 5. In total, more than 140 transactions, totaling more than $62 million in sales, were prematurely recorded in Belden’s books and records through the end of 2017. As a result, Belden’s reported revenue was overstated by more than $29 million for the first three quarters of 2017. Most of the revenue recorded in connection with these transactions was ultimately reversed in the fourth quarter of 2017. 6. Wiser provided false representation letters that failed to disclose he was aware of unusual transactions and created a false internal memo to justify how transactions with the former employee were accounted for. 7. As a result of the improper revenue recognition, Belden filed materially misstated financial statements with the Commission in its quarterly reports on Forms 10-Q, and earnings press releases in current reports on Forms 8-K, for each of the first three quarters of 2017. Belden violated certain antifraud, reporting, books and records, and internal accounting controls provisions of the federal securities laws. Wiser violated certain antifraud and books and records provisions and caused Belden’s reporting, books and records and internal accounting controls violations.

Next Steps For The Investors at Belden Inc and (Dennis Wiser ,CPA)

It is recommended that you discuss this latest disclosure with your finance advisor as this company has done plain fraud and tried to deceive its investors and stockholders alike. While the company might try to convey that this enforcement action was nothing more than a small-one-time-thing, the reality could not be further from the truth.

Be smart about your decision on whether to work with a company such as this one or not.

If you haven’t entered a contract with this company yet, then it is better to stay away, than risk associating with a possible scammer.

Whenever such disclosures are made public, companies tend to misinform their investors and the public by burying this information. This is why I posted it here at Belden Inc and (Dennis Wiser ,CPA) NameAndShame. People deserve to know the reality about these guys, especially when they so shamelessly try to hide it.

Don’t Listen To Their White Lies

To save their image and manipulate investors, companies run cold-call campaigns and advertisements after an enforcement action by the SEC. This is mainly done to distract and persuade the investors and stockholders at the company from the horrible reality.

Please do not fall for the white lies companies often tell in order to save face in such situations. From shifting blame, to calling SEC “scumbags”, company representatives will do anything and everything to keep you from changing your mind about them.

I strongly recommend that you take all your investment decisions without any external influences from the company. A logical approach, combined with experience goes a long way. Don’t let their fake smiles be the result of your monetary loss.

Share Your Opinion, Findings & Evidence

If you have helpful information about this company, then please share it in a comment. A single comment can go a long way and it will help shed more light on this case.

Adding solid evidence is possibly the most effective way to help the community see the truth about this company. Please do so by using the Evidence Box down below.

Interested in the full document? We’ve uploaded it down below!

Evidence Box


Add your own evidence

Add your own evidence

View more complaints for Belden Inc and (Dennis Wiser ,CPA)?