- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-05-22T20:55:00
The Department of Justice (DOJ) declined to prosecute Massachusetts-based biochemical company MilliporeSigma for its “extraordinary cooperation” in uncovering a “rogue” employee’s scheme to procure and ship discounted products to China using falsified export documents.
Gregory Muñoz, a MilliporeSigma salesperson, and his accomplice, Ben Yu, pleaded guilty to one count each of wire fraud conspiracy for their roles in the scheme, the DOJ announced in a press release Wednesday.
The declination is the first by the DOJ’s National Security Division, the agency noted. MilliporeSigma voluntary self-disclosed the matter.
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A French bus parts supplier will pay more than $2.4 million in penalties, disgorgement, and restitution to settle charges that it fraudulently misled its U.S. customers about the source of some of its parts.
Proterial Cable America received a declination notice from the Department of Justice related to its voluntary self-disclosure and remediation of apparent fraud committed by its employees.
Recent enforcement actions offer guidance on what the Department of Justice considers to be an “imminent threat” of disclosure or government action, what it means by “prompt” disclosure, and how a company can earn credit for revealing all relevant facts.
Gurbir Grewal, director of the Securities and Exchange Commission’s Division of Enforcement, will step down from his post Oct. 11. Grewal, who had served as the division’s director since 2021, will be replaced by Sanjay Wadhwa, currently the division’s deputy director, the SEC said.
T-Mobile, which experienced three huge data breaches in the past three years, agreed to pay $31.5 million in penalties and remediation for failing to protect millions of its customers’ personal information as part of a settlement with the Federal Communications Commission.
The U.K.’s Financial Conduct Authority fined Starling Bank, Britain’s first digital bank, nearly 29 million pounds (U.S. $38.5 million) for repeated failures related to onboarding high-risk customers.
