Proterial Cable America earns DOJ declination in apparent fraud case
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.
Related articles
-
News BriefFrench bus part supplier CBM to pay $2.4M to settle DOJ fraud allegations
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.
-
News BriefMilliporeSigma’s ‘extraordinary cooperation’ earns it DOJ declination
The Department of Justice 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.
-
News BriefLifecore Biomedical earns FCPA declination for voluntary self-disclosure
Pharmaceuticals company Lifecore Biomedical won’t face prosecution for apparent violations of the Foreign Corrupt Practices Act after satisfying multiple factors of the Department of Justice’s recently updated voluntary self-disclosure policy.
More from Regulatory Enforcement
-
News BriefCFPB ends probe into Meta’s financial advertising practices
Meta says it is no longer under investigation by the U.S. Consumer Financial Protection Bureau (CFPB), the latest instance of the agency scaling back enforcement under President Donald Trump.
-
News BriefTexas sues Johnson & Johnson, Kenvue over alleged misleading marketing of Tylenol
Texas Attorney General Ken Paxton sued two pharmaceutical companies for ”deceptively marketing Tylenol to pregnant mothers” despite risks linked to autism. The filing came two days before HHS Secretary Robert F. Kennedy Jr. appeared to walk back the claims.
-
News BriefCFPB scraps bad-actor registry, citing cost-benefit issues
The Consumer Financial Protection Bureau shut down a registry of non-bank financial firms that broke consumer laws. The agency cites the costs being ”not justified by the speculative and unquantified benefits to consumers.”