DOJ declines to prosecute Corsa Coal in FCPA case
By 
Kyle Brasseur2023-03-13T13:40:00
The Department of Justice (DOJ) published its first declination regarding a company’s apparent violation of the Foreign Corrupt Practices Act (FCPA) since putting forward new guidance on the value of voluntary self-disclosure to the agency.
Legal representatives of Pennsylvania-based Corsa Coal Corp. were notified March 8 the coal mining company would not face prosecution for alleged bribes employees paid to Egypt’s Al Nasr Company for Coke and Chemicals to secure coal supply contracts. The DOJ said Corsa paid approximately $4.8 million to an Egypt-based third party that its employees knew would be used to bribe Egyptian government officials, including the chairman of Al Nasr.
The scheme occurred from 2016-20, according to the DOJ, and earned Corsa approximately $32.7 million in profits.
Related articles
-
PremiumDOJ floats declinations as incentive under M&A self-disclosure safe harbor
The Department of Justice’s push to incentivize companies to voluntarily self-disclose potential misconduct reached its next stage in the form of a safe harbor policy regarding mergers and acquisitions.
-
News Brief
FCPA opinion shines light on reasonable expenses for foreign officials
A Foreign Corrupt Practices Act review published by the Department of Justice offers further clarity around when the agency would determine expenses paid on behalf of a foreign official to be deemed “reasonable and bona fide.”
-
News BriefGrupo Aval to pay $81M in landmark FCPA case
Colombian conglomerate Grupo Aval agreed to pay nearly $81 million as part of settlements addressing alleged bribes paid by its bank subsidiary Corficolombiana to win a highway construction contract.
More from Regulatory Enforcement
-
ArticleFormer startup CEO gets 7 years in prison for $175M fraud against JPMorgan Chase
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
-
ArticleGeorgia Tech to pay $875,000 for allegations brought by compliance officers
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
-
ArticleTractor Supply Company hit with $1.35M fine for alleged California privacy violations
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.