Dell to pay $100 million fine for fraud and misleading investors

Computer giant Dell Inc. has been slapped with a $100 million penalty to settle charges of accounting fraud and lying to investors, the Securities and Exchange Commission (SEC) announced.

Under the SEC settlement, Chairman and CEO Michael Dell, one of the world's richest men with a net worth of some $13 billion, also agreed to pay a $4 million penalty. Other senior Dell executives were also hit with fines.