Violation Tracker Individual Record
Company:
Williams Power Company Inc.
Current Parent Company:
JPMorgan Chase
Penalty:
$50,000,000
Year:
2006
Date:
February 22, 2006
Offense Group:
miscellaneous offenses
Primary Offense:
data submission deficiencies
Secondary Offense:
fraud
Violation Description:
Williams Power Company Inc. entered into an agreement with the government resolving an ongoing federal investigation into the submission of knowingly inaccurate reports by the company concerning a commodities market. Williams Power was subsequently sold to a subsidiary of Bear Stearns, which later was acquired by JPMorgan Chase.
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:
New York
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking & securities
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.
