Ericsson to pay Nokia $97M to settle FCPA-related damages claim
Swedish telecom giant Ericsson has reached a settlement of €80 million (U.S. $97 million) with Nokia relating to events that were the subject of a 2019 FCPA resolution with U.S. authorities.
DOJ joins SFO in corruption probe of Bombardier
The U.S. Department of Justice has joined the U.K. Serious Fraud Office in an ongoing investigation into plane maker Bombardier over suspected bribery and corruption relating to contracts and orders from airline carrier Garuda Indonesia.
DOJ closes FCPA investigation into Pactiv Evergreen
Pactiv Evergreen said it will not face an enforcement action by the Department of Justice, following an internal investigation launched last year into potential violations of the Foreign Corrupt Practices Act.
DOJ FCPA head Christopher Cestaro to depart for WilmerHale
Christopher Cestaro, chief of the Justice Department’s FCPA Unit, is set to depart the agency for a partner position with law firm WilmerHale.
Airbus subsidiary GPT pleads guilty to corrupt acts in Saudi Arabia
Airbus subsidiary GPT Special Project Management will pay approximately £30.3 million (U.S. $42.1 million) after pleading guilty to corruption relating to contracts it was awarded for work carried out in Saudi Arabia.
Ex-Braskem CEO pleads guilty for role in bribery scheme
The former CEO of Brazilian petrochemical giant Braskem pleaded guilty for his role in a scheme to divert hundreds of millions of dollars in bribe payments from the company to government officials and political parties in Brazil.
Michaela Ahlberg: Building a compliance program amid an FCPA probe
Michaela Ahlberg created a compliance program from scratch when she was hired by Swedish telecom Telia following allegations of corruption in its foreign business dealings. She shared what she learned with the audience at CW’s Financial Crimes virtual event.
DOJ’s Daniel Kahn talks FCPA, evaluation of compliance, more
Daniel Kahn, acting chief of the Department of Justice’s Fraud Section, discussed the Foreign Corrupt Practices Act, evaluating companies’ investments in compliance, and more at Compliance Week’s Financial Crimes virtual event.
Corruption-embroiled FirstEnergy names chief ethics and compliance officer
FirstEnergy named Antonio Fernández vice president and chief ethics and compliance officer, effective April 12. His appointment comes amid U.S. government scrutiny over a corruption scandal.
Toyota discloses ‘possible anti-bribery violations’ to U.S. authorities
Toyota said in a regulatory filing it has “reported possible anti-bribery violations related to a Thai subsidiary” to U.S. enforcement agencies.
SFO closes bribery investigation into KBR’s U.K. subsidiaries
The Serious Fraud Office announced it closed its bribery and corruption investigation into the activities of KBR’s British subsidiaries and employees, weeks after the U.K. Supreme Court unanimously ruled the agency breached its authority in the case.
Italian court acquits Eni, Shell of corruption charges
An Italian court acquitted oil companies Royal Dutch Shell and Eni and a group of current and former executives of corruption charges surrounding a widespread bribery scheme to acquire oil exploration rights in Nigeria.
Och-Ziff ex-CFO fined $35K for role in bribery case
The former chief financial officer at then-Och-Ziff Capital Management Group has agreed to pay $35,000 in a settlement with the SEC for his role in the firm’s notorious bribery scheme.
John Wood Group earmarks $197M for global bribery settlement
Scotland-based multienergy services company John Wood Group is in “advanced stage” settlement talks with authorities in the United States, the United Kingdom, and Brazil regarding legacy bribery and corruption investigations.
U.S., U.K. enforcement heads praise coordination in corruption cases
Daniel Kahn of the U.S. Department of Justice and Lisa Osofsky of the U.K. Serious Fraud Office discuss how enforcement agencies expect closer cooperation through 2021 in the global fight against bribery and corruption.
Braskem self-reports probe into ‘improper payments’
Brazil-based petrochemical giant Braskem disclosed the launch of an internal investigation into allegations of “improper payments” related to an ethane supply project in Mexico.
TRACE: U.S. bribery enforcement declined in 2020
Despite a banner year for resolutions under the Foreign Corrupt Practices Act in 2020, U.S. enforcement of the anti-bribery law dropped 29 percent when compared to 2019, according to the latest Global Enforcement Report by TRACE International.
Samsung Heavy Industries settles Brazil bribery probe for $150M
Samsung Heavy Industries will pay 812 million reais (U.S. $149.9 million) in a leniency deal with Brazilian enforcement authorities for acts of corruption and money laundering related to “Operation Car Wash.”
Athenahealth settles kickback case for $18.25M
The Department of Justice announced an $18.25 million settlement with electronic health records technology vendor athenahealth for allegedly paying unlawful kickbacks to generate sales.
Samsung heir Jay Lee returns to prison for bribery scandal
Jay Lee, the heir and de facto leader of family-owned conglomerate Samsung, was sentenced to prison for 2 1/2 years in a retrial regarding his role in a bribery scandal involving the former president of South Korea.
SFO closes bribery probe into British American Tobacco
The U.K. Serious Fraud Office announced it has concluded without prosecution its investigation into British American Tobacco regarding whistleblower allegations of corruption in the conduct of business.
Deutsche Bank to pay $130M to settle bribery, ‘spoofing’ charges
Deutsche Bank has agreed to pay more than $130 million to resolve charges that it paid bribes to third parties to secure business deals in Asia and the Middle East, in addition to a separate commodities fraud “spoofing” case.
CFTC’s foray into FCPA enforcement creates new risk factors
The CFTC’s recent fine ladled onto a DOJ investigation into foreign corrupt practices by Swiss energy trader Vitol S.A. should force companies with any exposure in the commodities market to reexamine their risk profiles, experts say.
Record year of FCPA enforcement a sign of more to come in 2021
Major bribery scandals, record enforcement actions, unprecedented cross-border coordination and prosecutions—all this amid a global pandemic made 2020 an unforgettable year for FCPA enforcement.
Energy trader Vitol to pay $164M in FCPA case
The U.S. affiliate of global energy and commodity trading company Vitol will pay approximately $164 million to settle charges of bribery, corruption, and manipulative and deceptive conduct levied by multiple regulators, including historic involvement by the CFTC.
SBM Offshore FCPA case ends, Swiss investigation begins
SBM Offshore confirmed it has reached the end of its three-year deferred prosecution agreement with the Department of Justice for FCPA violations, but the oil and gas services company is now facing a fresh corruption investigation from Swiss enforcement authorities.
Asia corruption report cites government issues, bribery prevalence
Transparency International’s latest look at corruption and bribery trends in Asia reveals issues at the highest ranks of government, particularly at the parliamentary and senate level.
Apple’s chief security officer (and former CCO) accused of bribery
Apple Chief Security Officer Thomas Moyer, who served as the company’s chief compliance officer for nearly a decade, is facing accusations that he offered bribes in the form of iPads to California state officials in exchange for concealed firearms licenses.
Four years later, Odebrecht’s external monitorship ends
Odebrecht has reached the end of its compliance monitorship, four years after pleading guilty and resolving charges with authorities in the United States, Brazil, and Switzerland for violations of the Foreign Corrupt Practices Act.
2020 TRACE Bribery Matrix: U.S. falls from top 20; China on the rise
TRACE International’s 2020 Bribery Risk Matrix has the United States trending downward in multiple areas of business-related bribery risk.
OECD praises U.S. global anti-bribery enforcement efforts
In its 10-year check-in report, the Organisation for Economic Co-operation and Development lauded U.S. enforcement authorities for continuing to be at the forefront in the global fight against corruption and offered only minor suggestions for improvements.
Embattled FirstEnergy parts with legal, ethics chiefs
Embroiled in the Ohio nuclear bailout federal corruption scandal, FirstEnergy Corp. continued to clean house with the firing of Chief Legal Officer Robert Reffner and General Counsel and Chief Ethics Officer Ebony Yeboah-Amankwah.
Bombardier cooperating with SFO corruption investigation
The U.K. Serious Fraud Office is investigating plane maker Bombardier over suspected bribery and corruption in relation to contracts and orders from Indonesian airline carrier Garuda Indonesia.
Airline Services Ltd to pay $3.9M, agrees to DPA in bribery case
The U.K.’s Serious Fraud Office has levied penalties worth nearly £3 million (U.S. $3.9 million) against defunct aircraft refurbishing company Airline Services Limited for violating the country’s anti-bribery laws.
CPE Webcast: Enforcement risks and compliance pitfalls for corporations
Three recent major enforcement actions related to alleged domestic bribery activity, including a $200 million deferred prosecution agreement with a major utility, may signal a renewed focus by the Department of Justice into corruption corporate interests at the state and local levels in the U.S.
Bribes, falsified records cost Beam Suntory $19.6M in FCPA settlement
Alcoholic beverage maker Beam Suntory agreed to pay $19.6 million to resolve Foreign Corrupt Practices Act charges of improper payments by its Indian subsidiary.
Compliance lessons from Goldman Sachs’ $2.9B 1MDB settlement
Jaclyn Jaeger explores compliance takeaways from Goldman Sachs’ $2.9 billion global bribery settlement for its role in the 1MDB scandal.
Brazilian meatpacker’s FCPA settlement details widespread corruption
Brazilian company JBS, the largest meat producer in the world, and its holding company agreed to pay nearly $300 million for systemic and widespread corruption in settlements with two U.S. enforcement agencies.
Merit Medical fined $18M after ignoring CCO’s kickback warnings
The former chief compliance officer for Merit Medical Systems will be paid $2.65 million for his role in uncovering a six-year kickback scheme that paid hospitals and doctors to purchase company products.
White paper: Additional Tips for Success in Combatting Bribery and Corruption
On July 3, 2020, quietly and with little fanfare, the Criminal Division of the US Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) released the 133-page Resource Guide to the US Foreign Corruption Practices Act, Second Edition (“the FCPA Resource Guide”).
Sargeant Marine to pay $16.6M in FCPA case
Sargeant Marine has pleaded guilty to conspiracy to violate the anti-bribery provisions of the FCPA and agreed to a $16.6 million criminal fine to resolve the charges, the Department of Justice announced.
Pactiv Evergreen discloses FCPA probe ahead of IPO
In its IPO filing, foodservice packaging company Pactiv Evergreen (currently Reynolds Group Holdings Limited) announced it might have potentially violated the Foreign Corrupt Practices Act regarding gift cards given in China.
Benefits of bribery: New study separates fact from fiction
While bribery can provide companies with major short-term gains, there is little evidence to support many other beliefs surrounding the “return on investment,” according to a new study.
Best practices KYC: What to do when your client is in the headlines
How do we, as AML professionals, assess negative media alerts? It should start with a conversation with the client relationship manager, but it shouldn’t end there, writes Martin Woods.
Samsung heir indicted on market manipulation, accounting fraud charges
Lee Jae-yong, the heir and de facto leader at Samsung, was indicted by South Korean prosecutors on charges related to a 2015 merger of two subsidiaries and alleged irregularities in accounting practices at another subsidiary.
Herbalife finalizes $123M FCPA settlement with SEC, DOJ
Herbalife will pay $123 million to settle charges of violating the books-and-records and internal accounting controls provisions of the Foreign Corrupt Practices Act in China.
World Acceptance Corp. to pay $21.7M to resolve SEC FCPA case
World Acceptance Corp., a small-loan consumer finance company, has agreed to pay $21.7 million to resolve Securities and Exchange Commission charges for violations of the Foreign Corrupt Practices Act.
Eight years later, Zimmer Biomet FCPA case ends
Zimmer Biomet Holdings disclosed in a regulatory filing it has reached the end of its monitorship, eight years after resolving parallel settlements with the DOJ and SEC for violations of the Foreign Corrupt Practices Act.
SFO charges Airbus subsidiary for corrupt acts in Saudi Arabia
The U.K. Serious Fraud Office announced charges against GPT Special Project Management and three individuals concerning a criminal investigation that began eight years ago into allegations of misconduct in Saudi Arabia.
Och-Ziff investors reach $136M proposed settlement in FCPA case
Sculptor Capital Management (formerly Och-Ziff Capital Management) has “agreed in principle” to a $136 million settlement with former shareholders of Africo Resources and the DOJ for violations of the Foreign Corrupt Practices Act.