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Feb. 12, 2004

Judge Backs $16M IBM Fraud Penalty

SAN FRANCISCO - Superior Court Judge Alex Saldamando has upheld a $16 million fraud penalty imposed on IBM for failing to report the change in ownership to the city assessor when it bought One Market Plaza from Equitable Assurance Society in 1986.

By Dennis J. Opatrny
Daily Journal Staff Writer
        SAN FRANCISCO - Superior Court Judge Alex Saldamando has upheld a $16 million fraud penalty imposed on IBM for failing to report the change in ownership to the city assessor when it bought One Market Plaza from Equitable Assurance Society in 1986.
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