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 claimed 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. In 2019, GECC settled the lawsuit for $49 million.

Misconduct Type
Consumer Affairs
Enforcement Agency
Contracting Party
Court Type
Date of Complaint
Contractors Involved Penalty
General Electric $49,000,000
Further Information Released
Settlement Agreement 3/26/2019
Complaint 9/29/2012

Federal Contractor Misconduct Database