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FCPA inquiry into Güralp Systems Limited ends as SFO investigation continues

Jaclyn Jaeger | August 24, 2018

The Fraud Section of the Justice Department’s Criminal Division informed Güralp Systems Limited (GSL), a maker of seismic testing equipment, that it has closed its Foreign Corrupt Practices Act inquiry without bringing any action.

The investigation concerned possible violations of the FCPA and U.S. money laundering statutes resulting from alleged corrupt payments made by GSL to public official Heon-Cheol Chi, a director of the Earthquake Research Center at the Korea Institute of Geoscience and Mineral Resources. The alleged activity occurred between April 2002 and September 2015.

In a letter to the company’s legal counsel, dated Aug. 20, the Fraud Section of the Justice Department’s Criminal Division said, “Based upon the information known at this time and consistent with the FCPA Corporate Enforcement Policy, the Department has closed its inquiry into GSL, notwithstanding evidence of...

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