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Violation Tracker Individual Record

Company: 
Ernst & Young LLP
Current Parent Company: 
Ernst & Young
Penalty: 
$123,000,000
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.

Year: 
2013
Date: 
March 1, 2013
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: 
miscellaneous services
Specific Industry of Parent: 
business services
Source of Data: 

https://www.justice.gov/usao-sdny/pr/manhattan-us-attorney-announces-agr... (archived copy)

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.