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Violation Tracker Summary for Mega-Scandal

Mega-Scandal: Early 2000s Accounting Scandals
Description: This list shows cases from the early 2000s involving major accounting and corruption controversies. Note: defunct companies such as Enron are not treated as parent companies.
Penalty Total since 2000$6,113,370,000
Number of Penalty Records: 29
Note: The totals here are adjusted to account for the fact that each current parent's entries may include both agency records and settlement announcements for the same case; or else a penalty covering multiple locations may be listed in the individual records for each of the facilities. They are also adjusted to reflect cases in which federal and state or local agencies cooperated and issued separate announcements of the outcome. Duplicate or overlapping penalty amounts are marked with an asterisk in the individual records list below.
Top 10 Current Parent CompaniesTotal Penalty $Number of Records
Verizon Communications$942,670,0004
Encompass Health$445,000,0001
Fannie Mae$400,000,0001
Lumen Technologies$250,000,0001
Apollo Global Management$235,000,0002
Broadcom$225,000,0002
JPMorgan Chase$160,000,0002
Citigroup$126,000,0002
Ernst & Young$109,000,0001
Canadian Imperial Bank of Commerce$80,000,0001

Individual Penalty Records:

Click on the company or penalty amount for more information on each case. Click on the current parent name to reach the summary page for that parent company.

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CompanyCurrent Parent sort iconCurrent Parent IndustryPrimary Offense TypeYearAgencyPenalty Amount
WorldCom, Inc.Verizon CommunicationstelecommunicationsFalse Claims Act and related2004DOJ_CIVIL$27,670,000
WorldCom Inc.Verizon Communicationstelecommunicationsaccounting fraud or deficiencies2003SEC$500,000,000
MCIVerizon Communicationstelecommunicationstax violations2005MULTI-AG$315,000,000
MCIVerizon Communicationstelecommunicationstax violations2005MS-AG$100,000,000
Northern TrustNorthern Trustfinancial servicesbenefit plan administrator violation2006private lawsuit-federal$37,500,000
Lucent Technologies Inc.Nokiatelecommunicationsaccounting fraud or deficiencies2004SEC$25,000,000
Motorola Inc.Motorola Solutionstelecommunicationsaccounting fraud or deficiencies2007SEC$25,000,000
Qwest Communications International Inc.Lumen Technologiestelecommunicationsaccounting fraud or deficiencies2004SEC$250,000,000
J.P. Morgan Chase & Co.JPMorgan Chasefinancial servicesaccounting fraud or deficiencies2003SEC$135,000,000
J.P. Morgan Chase & Co.JPMorgan Chasefinancial servicesaccounting fraud or deficiencies2003NY-MANDA$25,000,000
Federal National Mortgage Association (Fannie Mae)Fannie Maefinancial servicesaccounting fraud or deficiencies2006SEC$400,000,000
Ernst & YoungErnst & Youngbusiness servicesaccounting fraud or deficiencies2009MI-AG$109,000,000
HealthSouthEncompass Healthhealthcare servicesaccounting fraud or deficiencies2006NM-AG$445,000,000
Deloitte & Touche LLPDeloittebusiness servicesaccounting fraud or deficiencies2005SEC$50,000,000
Citigroup, Inc.Citigroupfinancial servicesaccounting fraud or deficiencies2003SEC$101,000,000
Citigroup, Inc.Citigroupfinancial servicesaccounting fraud or deficiencies2003NY-MANDA$25,000,000
Canadian Imperial Bank of CommerceCanadian Imperial Bank of Commercefinancial servicesaccounting fraud or deficiencies2003SEC$80,000,000
Computer Associates International, Inc.Broadcomelectrical and electronic equipmentaccounting fraud or deficiencies2004SEC(*)Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting. $225,000,000
Computer Associates International, Inc.Broadcomelectrical and electronic equipmentaccounting fraud or deficiencies2004USAO$225,000,000
Merrill Lynch & Co. Inc.Bank of Americafinancial servicesaccounting fraud or deficiencies2003SEC$80,000,000
America OnlineApollo Global Managementprivate equity (including portfolio companies)accounting fraud or deficiencies2004DOJ_CRIMINAL$210,000,000
AOLApollo Global Managementprivate equity (including portfolio companies)accounting fraud or deficiencies2006AK-AG$25,000,000
Adelphia Communications Corporation accounting fraud or deficiencies2005DOJ_CRIMINAL$715,000,000
Nortel Networks Corporation accounting fraud or deficiencies2007SEC$35,000,000
Time Warner Inc. accounting fraud or deficiencies2005SEC$300,000,000
Andersen, LLP accounting fraud or deficiencies2002AZ-AG$217,000,000
Enron price-fixing or anti-competitive practices2005MULTI-AG$1,520,000,000
Enron Corp. accounting fraud or deficiencies2005CT-AG$111,200,000
Time Warner accounting fraud or deficiencies2006AK-AG$25,000,000
(*): Penalty amounts marked by an asterisk are ones announced by more than one agency. Parent penalty totals are adjusted to avoid double-counting.