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Violation Tracker Individual Record

Company: Holtec International
Current Parent Company: Holtec International
Penalty: $5,000,000
Year: 2024
Date: January 30, 2024
Offense Group: financial offenses
Primary Offense: tax violations
Violation Description: Holtec International, a Camden-based energy technology company involved in the decommissioning of nuclear power sites, agreed to pay $5 million in penalties and retain an independent reviewer approved by the State to monitor future applications for State benefits, and in exchange the State agrees to defer criminal prosecution following a lengthy criminal investigation into applications by Holtec and a related company, Singh Real Estate Enterprises (SRE), to the New Jersey Economic Development Authority (EDA) for $1 million worth of tax credits from the Angel Investor Tax Credit Program.
Level of Government: state
Action Type: agency action
Agency: New Jersey Attorney General
Civil or Criminal Case: civil
Facility State: New Jersey
HQ Country of Current Parent: USA
HQ State of Current Parent: Florida
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: miscellaneous energy products and systems
Specific Industry of Current Parent: energy systems
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.