Canopy Financial Faces SEC Fraud Charges

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At www.sfgate.com

Canopy, which provides a platform for administering and managing health savings and flexible spending accounts, is headquartered in Chicago and has offices in San Francisco and New Jersey. It filed for Chapter 11 bankruptcy in Illinois last week. The alleged fraud came to light when KPMG discovered that Canopy had been claiming that its financial statements for 2007 and 2008 were audited by KPMG.

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