SEC accuses two Bankrate officials of manipulating results

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The Securities and Exchange Commission (SEC) headquarters building stands in Washington, D.C., U.S. on Tuesday, Oct. 1, 2013. The U.S. government began its first partial shutdown in 17 years, idling as many as 800,000 federal employees, closing national parks and halting some services after Congress failed to break a partisan deadlock by a midnight deadline. Photographer: Joshua Roberts/Bloomberg via Getty Images

Photograph by Joshua Roberts — Bloomberg via Getty Images

NEW YORK, Sept 8 (Reuters) – Two Bankrate Inc officials were sued on Tuesday by the U.S. Securities and Exchange Commission over an alleged fraudulent scheme to boost results in the second quarter of 2012 by artificially inflating revenue and understating expenses.

The SEC sued Edward DiMaria, who was Bankrate’s chief financial officer at the time, and Matthew Gamsey, who was Bankrate’s director of accounting and a vice president.

Bankrate is a financial services company known for its personal finance website, Bankrate.com.

(Reporting by Jonathan Stempel in New York; Editing by Chizu Nomiyama)