Violation Tracker Individual Record

Company: 
PNC ICLC Corp.
Current Parent Company: 
PNC Financial Services
Penalty: 
$115,000,000
Year: 
2003
Date: 
June 2, 2003
Primary Offense: 
accounting fraud or deficiencies
Violation Description: 

PNC ICLC Corp., a subsidiary of the PNC Financial Services Group, Inc., agreed to pay $90 million to a restitution fund and $25 million in penalties to the United States as part of a deferred prosecution agreement on criminal charges of conspiracy to violate securities laws.

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 Parent: 
USA
HQ State of Parent: 
Pennsylvania
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
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.