Securities regulators charged three former Kmart Corporation executives on Thursday in a $24 million accounting fraud scheme that allegedly included four individuals working for big-name outside vendors Coca-Cola Company, Eastman Kodak Company, Pepsi-Co, and PepsiCo’s Frito-Lay unit.

The Securities and Exchange Commission didn’t bring charges against Kmart or the other companies, but sued seven current and former executives at the companies.

The SEC’s case, filed in federal court in Michigan, involves promotional and marketing payments that Kmart received from vendors. Regulators said the former executives took part in a fraud that allowed Kmart to overstate its net income in the fourth quarter of 2001 by about $24 million. Kmart later restated its financial results.

Former Kmart divisional vice presidents Albert Abbood and Michael Frank agreed to settle the charges without admitting or denying the SEC’s allegations. Mr. Abbood will pay a $50,000 fine. Mr. Frank will be barred from serving as a corporate officer or director for five years, but the SEC said he wasn’t fined based on his “demonstrated inability to pay.”

John Paul Orr, a former vice president in Kmart’s photo division, was charged but has not settled. Coca-Cola’s former national sales director, David Kirkpatrick, and PepsiCo’s former national sales director, David Bixler, currently a general manager at PepsiCo, also were charged in the case and have not reached a settlement with securities regulators. The SEC said it has settled with former Eastman Kodak general manager Darrell Edquist, former Frito-Lay national account manager Randall Stone, and former Frito-Lay sales director Thomas Taylor.