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Violation Tracker Individual Record

Company: Williams Power Company Inc.
Current Parent Company: JPMorgan Chase
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Penalty: $50,000,000
Year: 2006
Date: February 22, 2006
Offense Group: miscellaneous offenses
Primary Offense: data submission deficiencies
Secondary Offense: fraud
Violation Description: Williams Power Company Inc. entered into an agreement with the government resolving an ongoing federal investigation into the submission of knowingly inaccurate reports by the company concerning a commodities market. Williams Power was subsequently sold to a subsidiary of Bear Stearns, which later was acquired by JPMorgan Chase.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: deferred prosecution agreement
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.