ABT Associates

Company: ABT Associates
U.S. public company?
United States of America
Financial institution?

Agreement Information
Type of crime: Other
Docket text*:
Agreement text: PDF
Disposition type: DP
Agreement date (yyyy-mm-dd): 2007-01-18
Jurisdiction: Massachusetts
Document source: None

Related Documents
Text of press release: Press Release
Other agreement:

Fines / Punishment
Length of agreement (in months): 27
Fine amount ($): 2,121,688
Restitution amount ($): 194,578
Forfeiture/disgorgement amount ($): 0
Additional regulatory fine amount ($): 194,578
Community service / other penalties ($): 0
Total payments ($): 2,316,266

Related Cases
Parallel regulatory action? -
Regulatory fine ($): -
Regulatory disgorgement/forfeiture ($): -
Total regulatory payment amount ($): -
Payments description: -
Parallel civil suit? -
Civil judgment? -
Civil judgment amount: -

Independent monitor required? -
Other officer required? Yes
Compliance program required? Yes
New position required? -
Outside experts required? Yes
Governance changes required? Yes : Will maintain and staff an internal auditing program that encompasses international operations, and the staff will report on the results of these internal audit tests in writing to the Audit Committee of the Board of Directors on an annual basis; the most senior site finance and accounting manager at each international site will be supervised by both the Chief of Party or Project Director in the country and a US based accounting manager (each yeat an auditor will meet with each of these managers to review their compliance with company policy; the results of these reviews will be compiled in an annual written report signed by the Director of Internal Audit and submitted to the Audit Committee of the Board of Directors)
Who selects monitor? -
Length of monitorship (in months): -
Monitor name: -
Was the monitor a former prosecutor? -

Other Agreement Variables
Leniency considerations? Yes : Outside auditor.
Accept responsibility? Yes
Statement of facts: Yes
United States Sentencing Guidelines? Yes : Internal auditing program
Description of pre-agreement compliance Yes : Abt "has established" a Foreign Currency Transaction Policy and Procedure
Regulatory compliance required? -
Unrelated terms: -
Privacy waiver? -
Fine calculation included? -
Fine description: $2.9 million in fines and restitution
Can DOJ unilaterally terminate agreement? Yes
Regulatory agency: U.S. Agency for International Development (USAID)
Part of Swiss Bank Program? -
Notes: Second time that ABT Assoc. came to an agreement with U.S. Attorney Office of Mass. For over-billing. In 1999, paid $1.9 million for premature billing of subcontractor costs.

*The docket above is unofficial and may be incomplete or out-of-date. The official docket is available on PACER (fees may apply).