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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jaclyn Jaeger2023-05-30T13:00:00
The Supreme Court struck yet another blow to the Department of Justice (DOJ) and its public corruption case efforts in two separate unanimous decisions handed down May 11.
In the first case, Percoco v. United States, the central issue addressed the scope of “honest services fraud.” The honest services theory typically holds public officials have a fiduciary duty to provide the “intangible right of honest services” in performing their elected or appointed service to the public. Thus, any scheme to deprive the public of that right—such as accepting a bribe or kickback—might result in the prosecution of honest services fraud.
In Percoco, the defendant was a private citizen with government connections. Joseph Percoco was a former top aide to then-New York Gov. Andrew Cuomo. Percoco had temporarily left his government position to assume a private role as Cuomo’s campaign manager.
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2023-05-17T19:30:00Z By Aaron Nicodemus
One of the ways the Department of Justice will assess a firm’s compliance program is by judging how accessible and visible a company’s data is to its compliance function, an agency official told attendees at Compliance Week’s 2023 National Conference.
2023-05-03T19:29:00Z By Aaron Nicodemus
A new report from the Committee of Sponsoring Organizations of the Treadway Commission offers a blueprint to organizations for establishing an overall fraud risk management program.
2023-04-19T13:16:00Z By Jaclyn Jaeger
A critical examination of Ericsson’s 2019 deferred prosecution agreement and the Department of Justice’s determination the company breached the agreement raises questions regarding the overall lack of accountability in the corruption scheme.
2024-12-03T21:32:00Z By Aaron Nicodemus
German petrochemical parts supplier Aiotec agreed to pay $14.5 million to settle allegations that it engaged in a four-year conspiracy to dismantle and ship a plastics manufacturing plant owned by a U.S. company to Iran, in violation of U.S. sanctions.
2024-12-03T17:48:00Z By Aaron Nicodemus
Kiromic BioPharma will pay no fine to the Securities and Exchange Commission after self-reporting that it failed to disclose material information about two cancer drugs to investors.
2024-11-26T19:59:00Z By Jeff Dale
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
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