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About POGO's Federal Contractor Misconduct Database (FCMD)
The government awards contracts to companies with histories of misconduct such as contract fraud and environmental, ethics, and labor violations. In the absence of a centralized federal database listing instances of misconduct, the Project On Government Oversight (POGO) is providing such data. We believe that it will lead to improved contracting decisions and public access to information about how the government spends hundreds of billions of taxpayer money each year on goods and services. Report an instance of misconduct »
IBM Corporation
U.S. v. Moffat (Insider Trading)
Date: 03/29/2010 (Date of Plea)
Misconduct Type: Securities
Enforcement Agency: Justice
Contracting Party: None
Court Type: Criminal
Amount: $50,000
Disposition: Pleaded Guilty
Synopsis: In March 2010, former IBM senior vice president Robert Moffat pleaded guilty to one count of conspiracy to commit securities fraud and one count of securities fraud, admitting that he provided confidential information about two companies in an insider trading scheme that generated more than $25 million in illicit gains. In September 2010, Moffat was sentenced to six months imprisonment and a $50,000 fine. Moffat also faces civil charges filed by the U.S. Securities and Exchange Commission (see related IBM instance, “SEC v. Galleon Management LP, et al. (Insider Trading)”.)
