The computer maker Dell has paid 100 million dollars to the Securities and Exchange Commission (SEC) for settlement of the charges of accounting fraud. Dell has been charged for accounting fraud of issuing fake accounts report to meet the profit forecasts of the analysts. Beside the 100 million dollars the chairman of Dell Mr. Michael Dell has to pay a separate amount of 4 million dollars as a civil penalty.

According to SEC, Dell has been also accused of not disclosing a huge payment received from Intel. Intel paid that amount to not use other chips made by its rivals in the Dell computers. But the computer firm Dell and its officials have denied to these charges.

The chairman of Dell Mr. Michael Dell said that they are very happy that the matter has been resolved and now they are committed to maintain accurate accounting details. Mr. James Schneider, former chief financial officer of Dell will pay 3 million dollars and Mr. Kevin Rollins, former chief executive of Dell will also pay 4 million dollars for the settlement. According to SEC the payment from Intel had helped Dell so much to meet the analysts forecast for last several years.