Former Mcsi Executive Arrested in Stock Fraud Case ; Feds Allege Ex-Ceo Michael Peppel Overstated Earnings and Collected $6.8 Million From Fraudulent Stock Sale.

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DAYTON -- Michael E. Peppel, former chief executive officer of the failed MCSi Inc., was arrested and appeared in court Thursday on charges he overstated the once fast-growing company's 2001 income by more than $43 million.

Federal authorities also charged that Peppel, 39, overstated the computer sales company's revenue by $28 million in the first quarter of 2002, and that he personally collected $6.8 million from a fraudulent sale of 300,000 MCSi stock shares in December 2001. The Dayton-area company -- formerly Miami Computer Supply Corp. -- went bankrupt in 2003, costing as many as 1,300 employees their jobs.

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Former Mcsi Executive Arrested in Stock Fraud Case ; Feds Allege Ex-Ceo Michael Peppel Overstated Earnings and Collected $6.8 Million From Fraudulent Stock Sale.

The company is in federal bankruptcy liquidation, rendering worthless the MCSi stock bought by...

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