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
[…] some companies have found a way to encourage and support employees in the far-flung field offices and just down the hall — an organizational ombuds program. Baker Hughes, Eaton, Mars, and AMEX are among them. The organizational ombuds function supports employees of all levels to raise issues, consider options, and manage challenges. Whether by […]
[…] paid $128 million. And in 2006, 4 companies paid $86.25 million. Here’s a breakdown (our first) for 2007 and 2006. For 2007: Aibel — $4.2 million Baker Hughes — $44 million Bristow Group — nil Chevron — $28 million Delta Pine — $300,000 Dow Chemical — $325,000 El Paso Corporation — $2.25 million Immucor […]
[…] Corp. disgorged $2.8 million and DPC (Tianjin) Co. Ltd. $2.8 million. In 2006, Schnitzer Steel Industries, Inc. disgorged $7.7 million and Statoil $10.5 million. In 2007, Baker Hughes Inc. disgorged $23 million, El Paso Corp. $5.5 million, and York International $10 million. Want to hear the rest? In 2008, Fiat disgorged $7.2 million, Siemens […]
[…] submit to monitoring to ensure compliance with anti-bribery laws, reports Bloomberg. Siemens’ $800 million settlement payments would dwarf the previously highest FCPA penalty. In April 2007, Baker Hughes paid $44.1 million. Last month Siemens said it had reserved €1 billion for any settlement with U.S. authorities. “The German company,” Bloomberg says, “knowingly used off-book […]
[…] Enforcement Action Against Bristow Group for Improper Payment to Nigerian Gov’t Officials and Other Violations (Sept. 26, 2007), available at http://www.sec.gov/news/press/2007/2007-201.htm. 4 In the Matter of Baker Hughes Inc., SEC Admin. Proceeding File No. 3-10572, Cease & Desist Order (Sept. 12, 2001), available at http://www.sec.gov/litigation/admin/34-44784.htm; SEC v. KPMG Siddharta Siddharta & Harsono, No. H-01-3105 […]
[…] a deal with U.S. prosecutors, it is likely to pay the highest penalties ever for FCPA offenses. The current record of $44.1 million is held by Baker Hughes. Alcoa, coincidentally, has Foreign Corrupt Practices Act concerns of its own. In February this year, it was sued by Aluminum Bahrain BSC (“Alba”) for corruption and […]
[…] For questionable payments of around $1 million to secure a $180 million contract, it agreed to pay a $10.5 million penalty and $5.9 million in disgorgement. Baker Hughes currently holds the record for penalties paid in an FCPA case — $44 million. The company’s illegal payments amounted to about $5.2 million. To settle the […]
[…] 2010. 6. Alcatel-Lucent $45 million in 2010. 7. Chevron $25 million in 2007. 8. Pride $23.5 million in 2010. 9. GE $22.5 million in 2010. 10. Baker Hughes $23 million in 2007. If we’ve missed any cases that should appear in this initial list, please let us know. For comparison, take a look at […]
[…] rises to 15. Here’s our full list of FCPA recidivists, compiled from the enforcement index on FCPA Blog+. 1. ABB Ltd. in 2004 and 2010. 2. Baker Hughes Incorporated in 2001 and 2007. 3. Deutsche Bank AG 2019 and 2021. 4. Eni S.p.A. in 2010 and 2020. 5. Goodyear International Corp. and Goodyear Tire […]
Health care giant Johnson & Johnson will pay more than $2.2 billion to resolve criminal and civil claims arising from allegations of kickbacks to U.S. doctors and improper marketing claims about three of its prescription drugs.