BCG avoids criminal prosecution for FCPA violations related to bribes in Angola
By 
Adrianne Appel2024-08-30T13:53:00
The Department of Justice (DOJ) declined to prosecute Boston Consulting Group (BCG) for allegedly bribing Angolan officials in violation of the Foreign Corrupt Practices Act (FCPA), citing the firm’s prompt self-disclosure and timely remediation.
The DOJ found evidence that BCG’s office in Lisbon, Portugal, gave $4.3 million to an agent in Angola to secure contracts with the Angolan Ministry of the Economy and the National Bank of Angola, according to a letter Wednesday by Glenn Leon, chief of the DOJ’s Fraud Section, to BCG’s attorneys.
BCG agreed to disgorge $14.4 million in profits it secured from the corrupt activity but avoided criminal prosecution despite an agent of the firm sending bribes through three different offshore accounts, the DOJ said.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefPoor internal controls led to FCPA violations in Moog’s $1.7M settlement with SEC
A company culture geared to “win business at any cost” encouraged employees of New York-based aerospace manufacturer Moog to pay bribes in India to win contracts, the Securities and Exchange Commission alleged.
-
News BriefAAR Corp. discloses former exec implicated in Nepal, South Africa FCPA violations
Aviation maintenance services provider AAR Corp. disclosed that several former employees may have bribed officials in Nepal and South Africa to win contracts, and chose to self-report violations of the Foreign Corrupt Practices Act to authorities in the U.S. and U.K.
-
News BriefJohn Deere to pay $10M to settle FCPA violations by subsidiary in Thailand
Illinois-based manufacturer John Deere will pay approximately $10 million in penalties and disgorgement to the Securities and Exchange Commission for violating the Foreign Corrupt Practices Act with bribes paid by a Thai subsidiary.
More from Regulatory Enforcement
-
ArticleFalse Claims Act enforcement themes for 2026
The U.S. Department of Justice touted a record $6.8 billion in False Claims Act (FCA) recoveries in fiscal year 2025, much of that total stems from prior years’ cases and does not necessarily reflect the administration’s current enforcement direction.
-
ArticleFederal jury convicts former coal executive in Egypt-linked coal FCPA case
A former vice president of an American coal company was convicted by a federal jury for his part in an international bribery and money laundering scheme. The conviction represents an anomoly in the Trump administration’s handling of Foreign Corrupt Practices Act (FCPA) cases launched under former President Joe Biden.
-
ArticleU.K. financial regulator cuts cases to focus on investigations that achieve results
The U.K. financial regulator has dropped 100 investigations without action over the past three years, but compliance should expect a refocus of resources rather than a retreat from enforcement.