Three former top executives of oil services company Poseidon Concepts Corp. have reached settlement deals with the Alberta Securities Commission, agreeing to pay a combined total of $375,000 after admitting they filed financial statements that wildly overstated the company's revenue. Former chief executive officer Lyle Michaluk, former chief financial officer Matthew MacKenzie and former chief operating officer Clifford Wiebe all acknowledged the company's financial statements were inaccurate in 2012, but all said they did not "deliberately or intentionally" intend to contravene Alberta securities laws, according to settlement agreements released Thursday.
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