William Aldinger may have been directly and indirectly responsibile for what is possibly the finance industry’s largest cumulative total in America under the control of one person as either director, CEO, or Chairman. But add his other positions and total of his suits and settlements is staggering:
• MasterCard International, as board member - fined US$1 billion - upheld by US Supreme Court
• Household International, as CEO - fined US$484 million - US multi-state
settlement
• Household International, as CEO - fined US$11 million - Shea v Household
• Household International, as CEO - fined US$46.5 million - ERISA Fraud,
October 13, 2004
• Household International, as CEO - fined US$12 million - California, February
2002
• Household and H&R Block - US$100 million - Household (HSBC) Taxpayer Financial Services Inc, May 9, 2005
• AT&T, as board member - US$340 million - Comcast at Home bondholder suit
• AT&T, as board member - US $100 million - Alleged Corporate fraud in financial forecasts, October 2004
• AT&T, as board member - US$500 million - Failed to pay access charges and universal service fees
• Household HSBC, as Chairman - US$1.4 million - UCAN v Household, privacy issues
Grand Total by May 2005: US$2.594 billion dollars and still counting. If we overlooked anything please send us the reference.
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