Violation Tracker Individual Record

Company: 
J.P. Morgan Chase & Co.
Current Parent Company: 
JPMorgan Chase
Penalty: 
$25,000,000
Year: 
2003
Date: 
July 28, 2003
Offense Group: 
financial offenses
Primary Offense: 
accounting fraud or deficiencies
Violation Description: 

J.P. Morgan Chase and Citigroup agreed to pay $25 million each, split evenly between the State of New York and the City of New York, in settlement of allegations they structured loans to Enron Corp. as complex commodity transactions, enabling Enron to fraudulently hide billions of dollars in debt.

Level of Government: 
local
Action Type: 
agency action
Agency: 
Manhattan (NY) District Attorney
Civil or Criminal Case: 
civil
Private Lawsuit Resolution Type: 
settlement
Facility State: 
New York
Facility County: 
New York
Facility City: 
New York
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.