Menu

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…

Stock Manipulation

The chairman and president of S-Oil Corporation were jailed and fined for stock price manipulation and accounting irregularities. Chairman Kim Sun Dong was jailed for three years for stock manipulation and accounting fraud; president Yoo Ho Kee was sentenced to 10 months in jail and a suspended prison sentence of two years for accounting fraud. The court also imposed a fine of approximately $240,500 on S-Oil. The government alleged that Kim and Yoo reaped $67.7 million in profits by inflating the company’s stock price between March 2000 and May 2002.

Misconduct Type
Securities
Enforcement Agency
International
Contracting Party
None
Court Type
Criminal
Disposition
Found Guilty
Date of Sentence
10/16/2002
Contractors Involved Penalty
Total
S-Oil Corporation $240,500
Further Information Released

Federal Contractor Misconduct Database