Defendant Name:
United Industrial Corporation
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Textron Inc.
SIC Code:
3728
CUSIP:
88320310
Document Reference:
34-60005
Document Details
Legal Case Name
In the Matter of United Industrial Corporation
Document Name
Corrected Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
Document Date
29-May-2009
Document Format
Administrative Proceeding
AAER
2981
Allegation Type
Foreign Corrupt Practices Act
Document Summary
On May 29, 2009, the SEC instituted settled cease-and-desist proceedings against United Industrial Corporation. The SEC stated: "Beginning in late 2001, and continuing through 2002, UIC, through its indirect,
wholly owned subsidiary ACL Technologies, Inc. (“ACL”), made multiple payments to one of its
foreign agents in connection with a military aircraft depot ACL was building for the Egyptian Air
Force (“EAF”) in Cairo, Egypt. Thomas Wurzel, ACL’s former President and a U.S. citizen and
resident, authorized the payments to the agent while he knew or consciously disregarded the high
probability that the agent would offer, provide or promise at least a portion of such payments to
active EAF officials for the purpose of influencing such officials to obtain or retain business for
UIC through ACL."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Disgorgement
Individual:
$267,571.00
Shared:
Pre-Judgment Interest
Individual:
$70,108.42
Shared:
