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Federal Contractor Misconduct Database (FCMD)
The federal government routinely awards contracts to companies with
histories of misconduct, including
…
contract fraud and other
violations. POGO believes that providing this website will help to
improve contracting decisions and increase public knowledge of how
the government spends billions of taxpayer dollars each year.
Read more…
Bribery by Chinese Subsidiary
ITT Corp. and the Securities and Exchange Commission settled ITT’s alleged violations of the Securities Exchange Act of 1934 and the Foreign Corrupt Practices Act (FCPA) arising from payments its Chinese subsidiary, Nanjing Goulds Pumps Ltd. (NGP), made to Chinese government officials from 2001 through 2005 to influence the purchase of NGP water pumps. ITT, without admitting or denying the SEC’s allegations, consented to the entry of a final judgment ordering the company to pay nearly $1.7 million in disgorgement, interest and civil penalties.
- Misconduct Type
- Ethics
- Enforcement Agency
- SEC
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Settlement
- Date of Announcement
- 2/11/2009