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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…

Securities Violations (Dollar General)

IBM agreed to pay $7 million as part of a settlement of a Securities and Exchange Commission investigation of Dollar General Corp., a client of IBM’s retail store services unit. IBM neither admitted nor denied wrongdoing in the settlement, but it consented to the entry of an SEC order directing it not to violate certain provisions of the federal securities laws. In 2004, IBM disclosed that regulators might take civil action against it for violating securities laws related to Dollar General accounting transactions dating back to 2000. Around the same time in a related matter, the SEC settled a civil action against IBM employee Kevin B. Collins for aiding and abetting Dollar General’s commission of accounting fraud. See IBM Corporation misconduct instance “SEC v. Kevin B. Collins (Securities Violations).”

Misconduct Type
Securities
Enforcement Agency
SEC
Contracting Party
None
Court Type
Administrative
Disposition
Settlement
Date of Company Announcement
6/25/2007
Contractors Involved Penalty
Total
IBM Corporation $7,000,000
Further Information Released
SEC Press Release 6/29/2007

See also:

Federal Contractor Misconduct Database