News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
Senior Editor
Richard L. Cassin
Editor at Large
Elizabeth K. Spahn
Editor Emeritus
Cody Worthington
Contributing Editor
Julie DiMauro
Contributing Editor
Thomas Fox
Contributing Editor
Marc Alain Bohn
Contributing Editor
Bill Waite
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
The government’s cooperating witness in the failed Africa sting prosecution was sentenced today to 18 months in federal prison followed by 36 months probation, according to a courthouse source.
The Department of Justice had asked that Richard Bistrong be spared jail based on his ‘extraordinary’ cooperation.… Continue Reading
Shearman & Sterling has just released the latest edition of its bi-annual ‘Recent Trends and Patterns in the Enforcement of the Foreign Corrupt Practices Act.’
If you’ve read earlier versions, you know it’s packed with useful data and insightful analysis.… Continue Reading
Tropical Singapore is experiencing an outbreak of a different sort — sex and corruption scandals.
Last week, according to Bloomberg’s Andrea Tan, an associate professor at the National University of Singapore was charged with corruption ‘for allegedly trading better grades for sex with a female student.’… Continue Reading
The Wall Street Journal’s Joe Palazzolo, Emily Glazer, and Joann S. Lubin said yesterday that federal prosecutors want to speak to Avon’s former CEO about possible FCPA compliance issues in China.… Continue Reading
Massachusetts-based Sensata Technologies Holding N.V., part of our Corporate Investigations List, said Friday the DOJ has closed its inquiry but could reopen it if new evidence shows up.
The company said it hasn’t heard any news from the SEC about the investigation.… Continue Reading
Industrial supplier WW Grainger Inc said last week that its internal investigation didn’t substantiate ‘significant use of gift cards for improper purposes in China.’
in March, Illinois-based Grainger said gift-giving practices by employees in China triggered an FCPA investigation.… Continue Reading
Oil and gas services giant Halliburton said it has opened a new investigation into payments by operations in Angola and Iraq.
The payments to third-party agents were for customs clearance and visa issues.… Continue Reading
Russian anti-corruption activist and opposition leader Alexei Navalny is reportedly facing arrest on Monday for abusing his authority as a volunteer advisor to a regional governor.
The Independent said Navalny’s lawyers confirmed Russian media reports that Navlany will be charged Monday with extortion.… Continue Reading
It is hard to argue that the current amount of fines is sufficiently “punitive” to deter corporate misconduct given the overall size of the companies engaging in misconduct. Some argue that the answer is just to raise the amount of fines and penalties against companies to draconian levels.… Continue Reading
Houston-based Schlumberger Limited still faces a DOJ investigation for bribes paid to customs officials by global logistics firm Panalpina.
In 2010, Panalpina and six of its customers made FCPA history when they simultaneously settled with the DOJ and SEC.… Continue Reading
At least sixteen Chinese companies have de-listed from U.S. stock exchanges in the last two years and three more are known to be in buy-out discussions, according to Kevin LaCroix of the D&O Diary.… Continue Reading
Here’s Michigan-based Stryker Corporation’s full FCPA disclosure from its Form 10-Q filed with the SEC on July 24. The company makes medical devices used for implants and reconstructive procedures.
… Continue ReadingIn 2007 we disclosed that the United States Securities and Exchange Commission (SEC) made an inquiry of us regarding possible violations of the Foreign Corrupt Practices Act (FCPA) in connection with the sale of medical devices in certain foreign countries.