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
Ye Pingdong, former chairman of Tianji Real Estate Development (Shenzhen) Co Ltd, was charged with bribery amounting to $8.1 million. Ye had bribed Zhou Weisi, the former chief of Nanlian village in city of Shenzhen, and Fan Shengming, a director of Shenzhen Taidejian Industrial Co Ltd, to win contracts for housing demolition projects.… Continue Reading
A court in Oman sentenced the CEO of state-owned Oman Oil Company to 23 years in jail Thursday for taking $8 million in bribes from a senior official at a South Korean company.… Continue Reading
Credit Suisse agreed last Friday to pay $196.5 million and admit wrongdoing to settle charges that it provided cross-border brokerage and investment advisory services to U.S. clients without first registering with the SEC.… Continue Reading
Over the course of the prior posts in this series, we examined various approaches to what we call “parental controls,” meaning compliance measures aimed at joint ventures and other affiliated entities that a company might employ.… Continue Reading
Acting Assistant Attorney General Mythili Raman of the Department of Justice’s Criminal Division announced on Wednesday that she is leaving the agency, effective March 21, 2014.
Under her leadership for the past year, the Criminal Division charged or convicted more than a dozen individuals for FCPA-related violations, and secured three of the ten of the biggest corporate FCPA resolutions ever involving a unit of Alcoa, France’s Total SA, and Weatherford International.… Continue Reading
Authorities are clamping down on corrupt police officers offering protection to sex workers in southern China’s “sin city” of Dongguan.
The crackdown, triggered by an investigative report aired on China Central Television (CCTV), “may have been an orchestrated effort involving China’s central government, state media and Guangdong Communist Party chief Hu Chunhua, and could be a preview to a second round of anti-graft sweeps across the country.”… Continue Reading
The Financial Crimes Enforcement Network (FinCEN) issued an Advisory to U.S. financial institutions reminding them to take risk-based steps to track the potential movement of assets related to Viktor Yanukovych and his former administration.… Continue Reading
Norway’s anti-corruption agency has filed criminal charges against defense and technology firm Kongsberg Gruppen, the company said Tuesday.
The charges are related to deliveries of communication equipment to Romania from 1999 to 2008, the company said.… Continue Reading
The High Court in London dismissed a civil damages claim last week against Bernie Ecclestone, the chief executive officer of Formula 1, arising from a sale of shares in the Formula 1 Group.… Continue Reading
In this seventh of an eight-part series on “parental controls,” we continue our discussion from the prior post on controls extended to more actively managed subsidiaries. We also tackle franchise compliance.… Continue Reading
Three men pleaded guilty in federal court in New York City Monday for a check-cashing scheme designed to evade anti-money laundering reporting requirements.
Robert Petrosyants and his twin brother Zhan, both of Fort Lee, New Jersey, admitted to conspiring to violate the Bank Secrecy Act for filing false Currency Transaction Reports (CTRs) for cash transactions of more than $10,000.… Continue Reading
After Monday, deferred prosecution agreements (DPAs) will be available to the UK Serious Fraud Office (SFO) in its fight of financial crimes, including corruption.
The SFO has stated that, although DPAs will be “a welcome addition to the prosecutor’s toolkit…,” its “preferred option” remains prosecution.… Continue Reading