By Aaron Nicodemus2024-12-06T17:31:00
A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice (DOJ) to settle allegations that it bribed officials in South Africa to win consulting contracts.
McKinsey & Co. Africa will pay the criminal penalty to resolve the DOJ investigation into a scheme to pay bribes to officials at South African government-owned entities Transnet and Eskom between 2012-16, earning the company approximately $85 million, the DOJ said Thursday in a press release.
The DOJ said it would credit up to one-half of the fine total against penalties the firm was ordered to pay by South African courts for the same violations. McKinsey and McKinsey Africa repaid “all revenues … received from potentially tainted contracts” in 2018 and 2021, the DOJ said.
2024-12-16T15:03:00Z By Aaron Nicodemus
McKinsey & Co. will pay $650 million in penalties to the U.S. Department of Justice (DOJ) to settle charges that it advised Purdue Pharma on how to “turbocharge” the sale of Oxycontin in the middle of the U.S. opioid crisis.
2024-11-19T19:26:00Z By Aaron Nicodemus
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
2024-10-17T17:01:00Z By Aaron Nicodemus
The other shoe finally dropped for Raytheon and parent company RTX, as two U.S. regulators announced nearly $1 billion in penalties to settle defective pricing in defense contracts, false claims related to inflated prices on government contracts, and bribes paid to government officials in Qatar that violated the FCPA.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
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