Violation Tracker Individual Record
Company:
Ernst & Young LLP
Current Parent Company:
Ernst & Young
Penalty:
$123,000,000
Year:
2013
Date:
March 1, 2013
Offense Group:
financial offenses
Primary Offense:
tax violations
Violation Description:
The United States Attorney for the Southern District of New York and Internal Revenue Service announced that Ernst & Young LLP admitted wrongful conduct by certain E&Y partners and employees in connection with the firm's participation, from 1999 to 2004, in four tax shelters that were used by approximately 200 E&Y clients in an effort to defer, reduce, or eliminate tax liabilities of more than $2 billion.
Level of Government:
federal
Action Type:
agency action
Agency:
U.S. Attorney-Southern District of New York
Civil or Criminal Case:
criminal
Prosecution Agreement:
non-prosecution agreement
HQ Country of Parent:
USA
HQ State of Parent:
New York
Ownership Structure of Parent:
privately held
Major Industry of Parent:
business services
Specific Industry of Parent:
business services
Source of Data:
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
