- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-04-16T19:30:00
Proterial Cable America, a manufacturer of copper and fiberoptic communication cables and other tubing components, received a declination notice from the Department of Justice (DOJ) related to its voluntary self-disclosure and remediation of apparent fraud committed by its employees.
In receiving the declination, Proterial agreed to disgorge more than $15.1 million in ill-gotten gains related to the apparent misconduct, according to the DOJ’s notice dated April 12. The company has already paid back about $6 million and must prove to the DOJ it has paid the remaining total within 90 days.
Proterial received praise from the DOJ for its timely self-disclosure, full cooperation, and efforts to upgrade its compliance program.
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