SEC
Whistleblower
Advocates

October 18, 2016

Ernst & Young LLP, Craig R. Fronckiewicz, Sarah E. Adams

Financial Fraud

SANCTION AMOUNT: $11,840,107

Defendants: Ernst & Young LLP
Craig R. Fronckiewicz, Sarah E. Adams

Settlement for alleged failures in audits of client Weatherford International which, separately, was also heavily sanctioned. Its earnings were allegedly inflated by $100 million to $154 million each year between 2007-2012 by fraudulently lowering year-end provisions for income taxes.

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