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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…

SEC v. Adams (Violation of Auditor Independence Rules)

The Securities and Exchange Commission (SEC) charged James T. Adams, a certified public accountant and the former chief risk officer at Deloitte LLP, with violating the auditor independence rules. The SEC found that, in 2009 and 2010, Adams accepted tens of thousands of dollars in casino markers (a transaction in which a casino customer receives gaming chips drawn against a line of credit) while he was the advisory partner on Deloitte’s audit of the corporation that owns the casino. Adams agreed to settle the charges with a two-year suspension from practicing as an accountant on behalf of any publicly traded company or other entity regulated by the SEC.

Misconduct Type
Securities
Enforcement Agency
SEC
Contracting Party
None
Court Type
Administrative
Disposition
Settlement
Date of Order
5/20/2014
Contractors Involved Penalty
Total
Deloitte LLP $0
Further Information Released
Order Instituting Proceedings 5/20/2014
SEC Press Release 5/20/2014

Federal Contractor Misconduct Database