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This is
the twenty-second semiannual report to the Congress summarizing
the activities and accomplishments of the Pension Benefit
Guaranty Corporation (PBGC) Office of Inspector General (OIG)
for the period October 1, 1999 through March 31, 2000.
In
the audit area, we issued eleven (11) reports, including:
- audit
of PBGC's FY 1999 financial statements, which resulted in
unqualified opinions with respect to the financial statements
and management's assertion concerning the operation of financial
management controls (with four reportable conditions), and
a report on PBGC's compliance with laws and regulations;
- a follow-up
report on the length of time it has taken PBGC to issue
initial determination letters; and
- two
evaluations of PBGC's computer security, which included
penetration testing of computer networks.
In
the investigative area, we opened twenty-six (26) new
investigative cases during the reporting period, and
closed twenty-one (21) cases. Of significance during
this period:
- four
(4) cases involving pension fraud, that resulted in two
(2) criminal convictions and restitution orders of more
than $47,000, and two voluntary restitutions in lieu of
prosecution of more than $21,000; and
- an
employee's took actions on behalf of a family member in
pursuing a pension benefit in violation of 18 U.S.C. §
205.
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