Equity Funding Corporation of America
Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile2 entries
1973
Equity Funding insurance and accounting fraud
Investigators uncovered a coordinated scheme involving fictitious life-insurance policies, false premium support, fabricated deaths, and misleading information supplied to investors, auditors, reinsurers, and regulators. A dedicated computer system was used to create and maintain false policies, and as many as 100 employees were reported to have participated.
Raymond Dirks insider-trading dispute
Securities analyst Raymond L. Dirks faced insider-trading allegations after investigating and sharing information about the company’s fraud. The case reached the Supreme Court and became a significant precedent concerning analysts, whistleblowers, and insider-trading liability.