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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 »

BAE Systems

SEC v. Wiener (Insider Trading)

Date: 03/23/2011 (Date of Settlement Announcement)

Misconduct Type: Securities

Enforcement Agency: SEC

Contracting Party: None

Court Type: Civil

Amount: $101,010

Disposition: Settlement

Synopsis: The U.S. Securities and Exchange Commission (SEC) charged BAE Systems executive Daniel F. Wiener II with engaging in illegal insider trading in December 2007 by purchasing securities of MTC Technologies, Inc. prior to the public announcement that BAE Systems was going to acquire MTC. Wiener realized a profit of $67,687 when he sold his MTC shares a month after the acquisition was announced. Without admitting or denying the allegations in the complaint, Wiener agreed to pay disgorgement of $67,687, prejudgment interest of $8,323, and a civil penalty of $25,000.