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Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
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Richard L. Cassin
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Julie DiMauro
Contributing Editor

Thomas Fox
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Marc Alain Bohn
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Bill Waite
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Shruti J. Shah
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Russell A. Stamets
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Richard Bistrong
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Eric Carlson
Contributing Editor

WSJ: CCI Exec To Change Plea

Chris Matthews of the Wall Street Journal reported today that Paul Cosgrove will appear in federal court Tuesday and plead guilty to charges stemming from a global bribery scheme at Control Components Inc.

Cosgrove, CCI’s former director of worldwide sales, was scheduled to go on trial late next month in federal court in California. He and a co-defendant, David Edmonds, CCI’s former vice president of worldwide sales, were facing charges of conspiracy to violate the FCPA and the Travel Act, and substantive violations of those statutes.

Matthews’ report said there was no information about what charges Cosgrove will plead guilty to or the terms of any plea deal.

Five other former executives from Control Components Inc. have pleaded guilty, most lately Stuart Carson and his wife, Hong ‘Rose’ Carson.

Another defendant, Han Yong Kim, also faces charges but his trial date hasn’t been set.

Valve-maker CCI of Rancho Santa Margarita, California pleaded guilty in 2009 to violating the anti-bribery provisions of the FCPA and the Travel Act. It admitted bribing foreign officials in a decade-long scheme to secure contracts in about 36 countries. CCI paid a criminal fine of $18.2 million to resolve the charges.

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