Violation Tracker Individual Record

Company: 
Verizon Business
Current Parent Company: 
Verizon Communications
Penalty: 
$11,700,000
Year: 
2007
Date: 
August 7, 2007
Offense Group: 
financial offenses
Primary Offense: 
accounting fraud or deficiencies
Violation Description: 

Verizon Business, the successor company to WorldCom Inc., paid the Oklahoma Department of Commerce more than $11.7 million to fulfill the terms of its deferred prosecution agreement with the state. The agreement called for the 1,600 new Oklahoma jobs but those positions were not created.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Oklahoma Attorney General
Civil or Criminal Case: 
civil
Facility State: 
Oklahoma
HQ Country of Parent: 
USA
HQ State of Parent: 
New York
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
telecommunications
Specific Industry of Parent: 
telecommunications
Source of Data: 

Agreement Closes WorldCom Deferred Prosecution, US States News, August 7, 2007 (via Nexis).

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.