Special Report

30 Scandals That Cost Companies Billions in Fines

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5. UBS
> Fine or settlement amount: $11,150,000,000
> Agency imposing fine: Multi-state AGs
> Reason: Settlement related to UBS misrepresenting auction rate securities to investors as safe, cash-equivalent products, when in fact they faced increasing liquidity risk

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4. JP Morgan Chase
> Fine or settlement amount: $13,000,000,000
> Agency imposing fine: US DOJ
> Reason: Settlement for misleading investors about securities containing toxic mortgages

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3. Volkswagen
> Fine or settlement amount: $14,700,000,000
> Agency imposing fine: US DOJ on behalf of EPA & State of California, and US FTC
> Reason: Settlement to resolve EPA and others allegations of the vehicles’ use of “defeat devices” to cheat emissions tests as well as claims of unfair advertising

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2. Bank of America
> Fine or settlement amount: $16,650,000,000
> Agency imposing fine: US DOJ
> Reason: Settlement for financial fraud leading up to and during the financial crisis

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1. BP
> Fine or settlement amount: $20,800,000,000
> Agency imposing fine: US DOJ
> Reason: Settlement to resolve civil claims against BP arising from the April 20, 2010 Macondo well blowout and the massive oil spill that followed in the Gulf of Mexico

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