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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…
Palm Beach Finance Partners v. General Electric Capital Corporation (Conspiracy to Commit Fraud)
Palm Beach Finance Partners, L.P. and Palm Beach Finance II, L.P. (Palm Beach Funds) were defrauded by a phony investment scheme run by Thomas Petters from 1995 until 2008. Upon the implosion of Petters’ scheme, the Palm Beach Funds suffered damages in excess of $1 billion and filed for bankruptcy. The Palm Beach Funds claim that General Electric Capital Corporation (GECC), which provided financing to Petters, knew about the fraudulent scheme as early as 2000 but did not disclose this to anyone outside of GECC.
- Misconduct Type
- Consumer Affairs
- Enforcement Agency
- Non-Governmental
- Contracting Party
- None
- Court Type
- Civil
- Disposition
- Pending
- Date of Complaint
- 9/29/2012
| Further Information |
Released |
| Complaint |
9/29/2012 |
