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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…
Oil-For-Food Program Illegal Payments
General Electric agreed to pay $23.5 million to settle a U.S. Securities and Exchange Commission (SEC) complaint that GE bribed Iraqi government officials to win contracts to supply medical and water purification equipment under the U.N. Oil-for-Food program. The SEC alleged that, between 2000 and 2003, two GE subsidiaries and two companies GE later acquired paid $3.6 million in kickbacks in the form of cash, computer equipment, medical supplies and services to the Iraqi health and oil ministries, in violation of the Foreign Corrupt Practices Act (FCPA). GE, which neither admitted nor denied the SEC’s allegations and cooperated with the investigation, paid $18,397,949 in disgorgement of profits, $4,080,665 in prejudgment interest, and a $1 million penalty.
- Misconduct Type
- Ethics
- Enforcement Agency
- SEC
- Contracting Party
- International
- Court Type
- Civil
- Disposition
- Settlement
- Date of Settlement Announcement
- 7/27/2010