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Editors

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

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Search Results for: label/ABB

ABB Reaches $58 Million Settlement (Updated)

Electrical technology giant ABB Ltd. of Switzerland reached a settlement with the DOJ today of criminal FCPA charges and will pay a fine $30,420,000. And in resolving civil charges with the SEC, the company will disgorge $22,804,262 and pay a $16,510,000 civil penalty.

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Does ABB Have an Effective Compliance Program?

Zurich, Switzerland-based engineering giant ABB Ltd’s Q2 earnings release contained the following item: On July 13, 2007, ABB disclosed to the U.S. Department of Justice and the U.S. Securities and Exchange Commission suspect payments made by employees of company subsidiaries in Asia, South America and Europe, in particular Italy. These suspect payments were discovered as […]

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ABB Is In The Pipeline

Responding to our post Where The Money Is, Washington, D.C. lawyer Marc Alain Bohn suggested we include ABB in the settlement pipeline. He’s right. In December 2008, the Swiss engineering company said it reserved about $850 million for possible resolution of U.S. and European corruption charges. A story from Dow Jones Deutschland said: The provisions […]

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Ex-ABB Manager Arrested, Mexican Agent Pleads Guilty

The Justice Department announced on Monday (November 23) the arrest of the former general manager of a Sugar Land, Texas-based ABB subsidiary for his alleged role in a conspiracy to bribe Mexican government officials. The bribes were allegedly intended to secure contracts with the Comisión Federal de Electricidad (CFE), a Mexican state-owned utility company. The […]

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Arrest In ABB Mexico Case

The Houston Chronicle reported the arrest Friday of a Mexican businesswoman on charges of violating the FCPA. Angela Gomez, 55, is accused of serving as an intermediary between ABB and another U.S. firm for Nestor Moreno, chief of operations for Mexico’s Federal Electric Commission. The report said prosecutors alleged that Moreno received a yacht, Ferrari, […]

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Fernando Basurto Waits for O’Shea Trial

Instead of setting a new sentencing date every few months for Fernando Basurto, who’s expected to be a star witness against John O’Shea, formerly of ABB, Judge Lynn Hughes has taken a more practical approach.

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Iraq’s Lawsuit Legacy

In July 2008, the government of Iraq launched a massive FCPA-related federal lawsuit in New York City. We first talked about it here. The complaint named 93 defendants in claims alleging bribery and fraud under the now-defunct United Nations oil-for-food program. Iraq sought more than $10 billion in damages, describing the U.N. program as “the […]

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