Scotland-based multienergy services company John Wood Group is in “advanced stage” settlement talks with authorities in the United States, the United Kingdom, and Brazil regarding legacy bribery and corruption investigations.
Anti-Bribery
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U.S., U.K. enforcement heads praise coordination in corruption cases
Daniel Kahn of the U.S. Department of Justice and Lisa Osofsky of the U.K. Serious Fraud Office discuss how enforcement agencies expect closer cooperation through 2021 in the global fight against bribery and corruption.
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Braskem self-reports probe into ‘improper payments’
Brazil-based petrochemical giant Braskem disclosed the launch of an internal investigation into allegations of “improper payments” related to an ethane supply project in Mexico.
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TRACE: U.S. bribery enforcement declined in 2020
Despite a banner year for resolutions under the Foreign Corrupt Practices Act in 2020, U.S. enforcement of the anti-bribery law dropped 29 percent when compared to 2019, according to the latest Global Enforcement Report by TRACE International.
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Samsung Heavy Industries settles Brazil bribery probe for $150M
Samsung Heavy Industries will pay 812 million reais (U.S. $149.9 million) in a leniency deal with Brazilian enforcement authorities for acts of corruption and money laundering related to “Operation Car Wash.”
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Athenahealth settles kickback case for $18.25M
The Department of Justice announced an $18.25 million settlement with electronic health records technology vendor athenahealth for allegedly paying unlawful kickbacks to generate sales.
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Samsung heir Jay Lee returns to prison for bribery scandal
Jay Lee, the heir and de facto leader of family-owned conglomerate Samsung, was sentenced to prison for 2 1/2 years in a retrial regarding his role in a bribery scandal involving the former president of South Korea.
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SFO closes bribery probe into British American Tobacco
The U.K. Serious Fraud Office announced it has concluded without prosecution its investigation into British American Tobacco regarding whistleblower allegations of corruption in the conduct of business.
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Deutsche Bank to pay $130M to settle bribery, ‘spoofing’ charges
Deutsche Bank has agreed to pay more than $130 million to resolve charges that it paid bribes to third parties to secure business deals in Asia and the Middle East, in addition to a separate commodities fraud “spoofing” case.
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CFTC’s foray into FCPA enforcement creates new risk factors
The CFTC’s recent fine ladled onto a DOJ investigation into foreign corrupt practices by Swiss energy trader Vitol S.A. should force companies with any exposure in the commodities market to reexamine their risk profiles, experts say.
