Gambling supply company agrees to pay $500,000
The US Securities and Exchange Commission announced Thursday that online gambling supply company International Game Technology has agreed to pay a fine of $500,000 for side-lining an employee who reported the company to the SEC regarding the IGT cost accounting model.
IGT conducted an internal investigation into the whistleblower's allegations and determined that its reported financial statements contained no misstatements, the agency said, noting that the company neither admitted nor denied wrongdoing.
However, IGT removed the employee concerned from significant work assignments within weeks of raising the SEC report, and the fine imposed on the company relates to the whistleblower protections afforded by the Securities Exchange Act.
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