Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: MBIA, Inc.
Current Parent CompanyMBIA
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $25,000,000
Year: 2007
Date: January 29, 2007
Offense Group: financial offenses
Primary Offense: investor protection violation
Secondary Offense: accounting fraud or deficiencies
Violation Description: MBIA agreed to pay $15 million in penalties and disgorge $10 million to investors to settle allegations of securities and accounting fraud stemming from an allegedly fraudulent $170 million transaction which MBIA engineered in 1998 to conceal the first major loss in its corporate history.
Level of Government: state
Action Type: agency action
Agency: New York Attorney General
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data(click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.