Violation Tracker Individual Record

Company: 
Ciena Capital LLC
Penalty: 
$26,300,000
Year: 
2010
Date: 
May 6, 2010
Offense Group: 
government-contracting-related offenses
Primary Offense: 
False Claims Act and related
Violation Description: 

Ciena Capital LLC, a private, non-depository lender located in New York City, reached an agreement with the United States to settle fraud claims related to its small business lending. Ciena and a subsidiary, Business Loan Center, a small business lending company licensed to originate and service loans under Section 7(a) of the Small Business Act, were alleged to have submitted false claims for payment on loans made through the Small Business Administration.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Justice Department Civil Division
Civil or Criminal Case: 
civil
Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.