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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 »

IBM Corporation

SEC v. Kevin B. Collins (Securities Violations)

Date: 06/26/2007 (Date of Settlement)

Misconduct Type: Securities

Enforcement Agency: SEC

Contracting Party: None

Court Type: Civil

Amount: $95,000

Disposition: Settlement

Synopsis: The Securities and Exchange Commission settled a civil action against IBM employee Kevin B. Collins for aiding and abetting IBM client Dollar General Corp.'s commission of accounting fraud. The SEC alleged Collins assisted Dollar General in a sham transaction that was designed to increase IBM's revenue for fiscal year 2000 and increase Collins' bonus compensation. Collins agreed to pay $95,000, including $48,769 in disgorgement, $21,231 in prejudgment interest and a $25,000 civil penalty. Around the same time in a related matter, the SEC settled an administrative proceeding against IBM involving Dollar General. See IBM Corporation misconduct instance "Securities Violations (Dollar General)."