All articles by Tom Fox – Page 18
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Deliberate ignorance and the FCPA
Tom Fox explores the term “conscious avoidance” under the FCPA, specifically in the case of Frederick Bourke, who invested in an enterprise in Azerbaijan that was engaged in bribery and corruption to obtain certain oil and gas rights of which Bourke claimed he had no knowledge.
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Ethical questions from running
Tom Fox explores the case of new light-weight Nike footwear, scheduled to be released in June, which may violate standards set forth by the International Amateur Athletic Federation.
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Haiti Teleco—the sordid affair nears an end
The sordid 2011 Haitia Teleco matter may finally be winding down, as the last player was arrested in February for his involvement in payments of more than $1.4 billion to Haiti Telco representatives.
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Continued fallout at Wells Fargo leads to board scrutiny
The Wells Fargo fraudulent account scandal still resonates as one of the most prime examples where the continued fallout from a board’s failure in the area of oversight of risk management is working to damage the organization.
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Uber and corporate culture
Does a company have to behave ethically to succeed? Perhaps not, as the recent ethical failures of Uber suggest. The company could be in hot water over its Greyball program, designed to thwart sting operations intended to catch Uber violating any taxi terms of services regulations.
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German Chancellor questioned in VW scandal
What did German Chancellor Angela Merkel know and when did she know it? A German parliamentary investigation seeks to uncover the truth about how much Merkel knew about diesel emissions standards and the VW case.
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Oliver Schmidt—not quite Sgt. Schultz
“I see nothing! I hear nothing! I know nothing!” seems to be the rallying cry of former head of emissions compliance in the U.S. for Volkswagen Oliver Schmidt, who claims during the VW scandal, “he was a minor player misled by company lawyers and information technology specialists.”
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The Samsung corruption scandal—an unrecognized cost
The past year was particularly bad for Korean electronics giant Samsung, and it looks like 2017 has gotten off to the same rough start. Tom Fox looks at the recent arrest of Lee Jae-yong, vice chairman of Samsung Electronics, on charges of bribery, embezzlement, and perjury.
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Companies now doing compliance in Brazil
Corporations in other countries are increasingly moving from a paper-based compliance program to actually doing compliance. The Man From FCPA Tom Fox reports.
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Spain and the fight against royal corruption
A guilty verdict that sent the brother-in-law of the King of Spain to jail for fraud could signal that Spain is getting serious about corruption. Tom Fox says it was the first time a member of the Spanish royal family had been forced to stand trial, a move widely applauded ...
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A South American response to corruption
In a very interesting development from the Odebrecht corruption scandal, federal prosecutors in Brazil and ten other countries recently announced they had agreed to cooperate in ongoing investigations surrounding the company, writes The Man From FCPA Tom Fox.
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On the evaluation of corporate compliance programs
Tom Fox looks at the Justice Department’s “Evaluation of Corporate Compliance Programs,” an 11-part list of questions that encapsulates the Justice Department’s most current thinking on what constitutes a best practices compliance program.
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Global anti-corruption enforcement numbers going up
Tom Fox discusses the reasons behind the rise in anti-corruption enforcement and the latest actions by the Securities and Exchange Commission and Department of Justice.
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Individual prosecutions as deterrence
Perhaps it’s not the penalties and fines, but rather the individual prosecutions that deter bad behavior. The Man From FCPA Tom Fox reports.
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Why bribery is bad for business
The Man From FCPA Tom Fox explores what happens when a company’s foundation is shaky and illegal.
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The Fourth Estate and the fight against corruption
‘When one plank of the fight against bribery and corruption’ falters, the media steps in. Tom Fox looks at the press’s role in fighting crime.
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Romanians take a stand against corruption
What does the Romanian people's revolt against igovernment's proposal to decriminalize bribery and corruption within the country mean on a larger scale? The Man From FCPA Tom Fox says they have earned the right to say to Washington: “the whole world is watching.”
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Massive fraud at BT Italia—the work of a few rogue employees?
The BT Italia scandal involved failures at all three levels of defense in the fraud arena: management, internal audit, and outside auditors. The Man From FCPA Tom Fox explores.
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Brazil’s once wealthiest man arrested in continued Car Wash fallout
Tom Fox has the details on the arrest of Eike Batista, once the wealthiest man in Brazil, who stands accused of paying significant bribes to the former governor of Rio de Janeiro state as part of the country’s landmark investigation into bid-rigging at state-controlled oil company Petrobras.
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Wells Fargo fallout: More board oversight of risk management?
The Wells Fargo fraudulent accounts scandal is enforcing a good trend: shareholder activism directed at the board for better risk management. Tom Fox reports.