German news magazine Spiegel posted a story online on April 12, 2008 (here) alleging that Siemens’ former chairman Heinrich von Pierer and its executive board members may have been aware of “systematic corruption at the German multinational firm as far back as 2004.”… Continue Reading
The U.K. Guardian reports today (here) that the British High Court has ruled in scathing language that the decision by the Serious Fraud Office to drop an investigation into bribery allegations involving BAE Systems and Saudi Prince Bandar was improper.… Continue Reading
The British press is reporting (here and here) that oil giant BP and its current and former CEOs, Tony Hayward and Lord Browne, as well as Norway’s Statoil and its CEO, are among the defendants named in a civil lawsuit involving allegations of bribery of government officials in Kazakhstan.… Continue Reading
It was just two weeks ago that we were waxing about the quiet times for FCPA watchers, due to the temporary bottleneck in the appointment of corporate monitors. But come to think of it, the Justice Department’s Fraud Section, the group in charge of FCPA enforcement, has a lot on its mind right now.… Continue Reading
If, as Alba alleges, Alcoa overcharged it for supply contracts by $2 billion, and some or all of the money went into offshore accounts controlled by Alcoa’s agent and was used to bribe Alba’s personnel and other Bahraini government officials, then the focus of the U.S.… Continue Reading
At the White Collar Crime Prof Blog, Ellen Podgor — who’s now the solo blog editor since Peter Henning placed himself on well-deserved blog editor emeritus status — discusses some of the obligations imposed by the Department of Justice on AB Volvo and its two subsidiaries in their deferred prosecution agreement here.… Continue Reading
What’s the story behind this case? To be honest, we’ve got lots of questions and so few answers.
This we know: Aluminum Bahrain BSC (“Alba”) sued Alcoa Inc., its long-time raw materials supplier, for corruption and fraud in a Pittsburgh federal court.… Continue Reading
The U.S. Justice Department has opened a criminal investigation into allegations that Alcoa Inc. violated the Foreign Corrupt Practices Act and other laws by bribing officials in Bahrain.
The federal investigation was triggered when Aluminum Bahrain BSC (“Alba”) filed a civil lawsuit three weeks ago in federal court in Pittsburgh accusing Alcoa of a 15-year conspiracy linked to overcharging, fraud and bribery.… Continue Reading