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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…

Anticompetitive Conduct in the Municipal Bond Investments Market (Non-Prosecution Agreement)

GE Funding Capital Market Services Inc. entered into a non-prosecution agreement with the Department of Justice to resolve the company’s role in anticompetitive activity in the municipal bond investments market. As part of its agreement with the department, GE Funding admitted, acknowledged and accepted responsibility for illegal, anticompetitive conduct by its former traders. From 1999 through 2004, the traders entered into unlawful agreements to manipulate the bidding process on municipal investment and related contracts, and caused GE Funding to make payments and engage in other related activities in connection with those agreements through at least 2006. These contracts were used to invest the proceeds of, or manage the risks associated with, bond issuances by municipalities and other public entities. See related General Electric instance, “Anticompetitive Conduct in the Municipal Bond Investments Market (SEC Settlement)”.

Misconduct Type
Antitrust
Enforcement Agency
Justice
Contracting Party
None
Court Type
Criminal
Disposition
Non-Prosecution Agreement
Date of Non-Prosecution Agreement
12/23/2011
Contractors Involved Penalty
Total
General Electric $0
Further Information Released
DOJ Press Release 2/29/2012
Non-Prosecution Agreement 2/29/2012

See also:

Federal Contractor Misconduct Database