The former chief executive officer and an ex-managing director of U.S. broker-dealer Direct Access Partners LLC pleaded guilty Wednesday to bribing an official of a state-owned Venezuelan bank in exchange for bond trading business.… Continue Reading
A China subsidiary of Avon Products Inc. pleaded guilty Wednesday in federal court in Manhattan to one count of conspiring to violate the Foreign Corrupt Practices Act. It will pay a $67.7 million criminal fine and the Avon parent will enter into a three-year deferred prosecution and appoint a compliance monitor.… Continue Reading
An oil and gas services firm based in Scotland was fined £170,000 ($267,000) after admitting that a former Kazakhstan-based employee paid bribes to win work.
Ian Foxley was six months into his new job overseeing a $3.5 billion supply contract between the UK Ministry of Defense (MoD) and Saudi Arabia’s National Guard, when he noticed that a procurement document requiring his signature included $2.5 million in strange, additional charges.… Continue Reading
Kenyan authorities arrested 77 Chinese nationals for allegedly operating a cybercrime command center capable of disrupting the country’s communication and financial systems.
Police raided a rented house in Nairobi after a fire broke out there and found “sophisticated” hacking and communications equipment, the Nation reported.… Continue Reading
Alstom SA is close to settling a criminal bribery investigation with the DOJ for $700 million, Tom Schoenberg of Bloomberg reported Tuesday.
The report cited “three people familiar with the matter.”… Continue Reading
Last week, we participated in a panel discussion at the World Bank, titled “Voice of Corruption Hunters in Social Media.” The panel was part of the World Bank’s International Corruption Hunters Alliance (ICHA) Conference and served as an opportunity for several of us in the communication and academic worlds to discuss the importance of social media for sharing anti-corruption ideas and strategies.… Continue Reading
The Securities and Exchange Commission Monday charged Bruker Corporation with violating the Foreign Corrupt Practices Act by paying for sightseeing trips and shopping expenses for Chinese government officials responsible for buying the company’s products.… Continue Reading
Siemens AG’s former CFO Heinz-Joachim Neubürger will pay the company €2.5 million ($3.1 million) to settle a civil recovery claim connected to the global bribery scandal Siemens resolved with U.S. and German authorities in 2008.… Continue Reading
Job Title: Compliance & Ethics Specialist IV-42833
Employer: Fannie Mae
Location: Washington, DC
The Federal National Mortgage Association (Fannie Mae) — Utilize broad expertise or unique knowledge in leading and performing assignments related to planning, directing, and/or executing procedures by the organization to comply with laws or regulations governing how it conducts its business.… Continue Reading
Canada’s biggest engineering and construction firm is recovering more than $13 million, claiming it was a victim of alleged bribes paid to the son of former Libyan dictator Moammar Gadhafi.
The Wall Street Journal’s James Grimaldi and Margaret Coker reported that SNC-Lavalin’s recovery “has surprised many lawyers involved with stolen-asset recovery efforts, because the work has been focused on returning ill-gotten gains to the countries, not firms whose officials paid bribes.”… Continue Reading