By  on August 4, 2009

The Securities and Exchange Commission has asked a judge to impose a $22.6 million judgment on former Kmart chief executive officer Charles Conaway after he was found liable on fraud charges earlier this year.

In a June 1 verdict, a jury in U.S. District Court in Ann Arbor, Mich., found that Conaway and his executive team had concealed the true financial state of Kmart from its shareholders prior to the firm’s bankruptcy in 2002.

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