Toronto's Globe and Mail reports that MDC’s SEC troubles began with a whistle blower complaint early in 2014. According to the report, the whistle blower, described as a former business associate of former MDC CEO Miles Nadal, alerted the SEC to accounting irregularities allegedly devised by the company to cover up its “deteriorating financial condition in published financial statements and news releases.”  The publication also reported that the whistle blower “alleged that MDC was improperly understating executive compensation costs, overstating the value of certain assets and compensating Mr. Nadal for personal expenses.”