According to multiple media reports, Beazer Homes said in a June 27 regulatory filing that it has fired Chief Accounting Officer Michael Rand for attempting to destroy company documents. An ongoing internal investigation by Beazer into its mortgage operations and related matters turned up Rand's violations of the company's ethics policy.

Rand, who joined Beazer Homes in 1996, is the second top official to be released by the Atlanta-based company this year. Former general counsel, Kenneth J. Gary, was fired in February "for a pattern of personal conduct, which includes violations of company policies."

Multiple calls by BUILDER Online to Beazer Homes were not returned. The company is currently under investigation by the Department of Housing and Urban Development (HUD) and the FBI for possible improper lending practices and fraud.

BUILDER Online will continue to follow this story. In August, BUILDER magazine begins a three-part series that delves into the subprime crisis and the impact it is having on home buyers and the housing industry.

Learn more about markets featured in this article: Atlanta, GA.