- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-10-27T20:22:00
Multinational conglomerate Honeywell International agreed to pay $3.35 million to settle allegations it sold defective material for bulletproof vests used by local, state, and tribal police departments, the Department of Justice (DOJ) announced Wednesday.
Between 2000-05, Honeywell sold a material it called “Z Shield” to bulletproof vest manufacturer Armor Holdings. The material was made from Zylon fiber manufactured by Japanese company Toyobo, according to the settlement agreement.
Z Shield deteriorated rapidly in heat and humidity, making it less protective against bullets—a problem Honeywell knew about, the DOJ alleged. The company violated the False Claims Act by selling the inferior material for the vests, which compromised the safety of law enforcement officers, the agency stated.
2023-05-12T18:48:00Z By Jeff Dale
Alaska-based telecommunications provider GCI Communications Corp. agreed to pay more than $40.2 million as part of a settlement agreement with the Department of Justice for alleged violations of the False Claims Act.
2023-04-25T19:10:00Z By Adrianne Appel
Utah-based military equipment manufacturer L3 Technologies agreed to pay $21.8 million to settle false claim charges levied by the Department of Justice regarding double-billing the Department of Defense for certain parts.
2022-12-19T20:58:00Z By Aaron Nicodemus
Honeywell International agreed to pay $202.7 million to settle charges it paid bribes to obtain contracts with government entities in Brazil and Algeria in violation of the Foreign Corrupt Practices Act.
2025-06-11T15:12:00Z By Adrianne Appel
The Department of Justice has charged the founder of cryptocurrency company Evita with 22 violations for allegedly laundering more than $500 million through U.S. banks and cryptocurrency exchanges, on behalf of sanctioned Russian entities.
2025-06-07T01:41:00Z By Oscar Gonzalez
The Securities and Exchange Commission Chair Paul Atkins explained his agency’s shift on cryptocurrency regulation to a Senate committee as legislators bargain over President Donald Trump’s “One Big Beautiful Bill” and the GENIUS Act, which would have the federal government invest heavily in cryptocurrency.
2025-06-04T15:24:00Z By Ruth Prickett
Up to 25,000 people a year in the U.K. are illegally promoting financial products or offering financial advice on social media, but none have yet appeared in court, according to the first Treasury Select Committee meeting on the subject of so-called “finfluencers.” Regulated financial services firms must comply with strict ...
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