Processing your request

please wait...

Investigations Dataset


Investigation Name:    Investigation into Xerox Corporation's Activities in India

Trend:    None

Type of investigation:    Internal, SEC, DOJ

Other Agencies Investigating/Assisting with SEC/DOJ Investigation:   

  • Indian Law Enforcement Agency

Whistleblower:    Yes


Xerox Corporation (Xerox) is an American corporation that sells print and digital document products and services in more than 160 countries. Incorporated in New York with principal offices in Connecticut, its stock trades on the New York Stock Exchange and the Chicago Stock Exchange.

As disclosed in its SEC filings, Xerox became aware of a number of matters at its Indian subsidiary, Xerox Modicorp Ltd. (XML), which occurred over a period of several years. These matters included misappropriations of funds and payments to other companies that may have been inaccurately recorded on the subsidiary’s books and certain improper payments in connection with sales to government customers. Xerox reported these transactions to the Indian authorities, the DOJ and to the SEC, and cooperated with inquiries that followed.

The Indian Ministry of Company Affairs (IMCA) engaged a private investigator to look into the matters and provided XML with a portion of the investigator’s report. The report includes allegations that XML’s senior officials and Xerox were aware of the alleged violations. Xerox reported the developments and furnished a copy of the report received by XML to the DOJ and SEC.

Xerox also investigated other reported allegations during this time regarding its subsidiaries in South America, South Africa, Nigeria and Eurasia, all which Xerox discussed with the SEC.

As of Xerox’s February 26, 2010 10-K filing, the Indian investigation was ongoing, but this disclosure was the last regarding these investigations, and it is unclear if any SEC or DOJ investigation is ongoing, though likely they have completed.

Protected Content

Please Log In or Sign Up for a free account to access restricted features of the Clearinghouse website, including the Advanced Search form and the full case pages.

When you sign up, you will have the option to save your search queries performed on the Advanced Search form.