News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
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Richard L. Cassin
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Thomas Fox
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Marc Alain Bohn
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Bill Waite
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Russell A. Stamets
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Richard Bistrong
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Eric Carlson
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Charges Involve Fraud, FCPA Books and Records Violations and Improper Promotional Expenses Bermuda-based heavy equipment maker Ingersoll- Rand Company Limited said on October 31, 2007 that it resolved fraud and U.S. Foreign Corrupt Practices Act violations in connection with illegal payments by subsidiaries to Iraqi officials under the U.N. Oil For Food Program. Ingersoll-Rand […]
[…] C Suite: A Crucible for Misconduct.” Looking back, I see that my thinking (and my language) changed because I was influenced by the release of the 2013 RAND Center’s 100-page report of a symposium on C-Suite misconduct. It clarified the facts, provided a new vocabulary and inspired confidence to discuss hard realities. Later that […]
Ingersoll-Rand‘s deferred prosecution agreement was supposed to expire on Halloween. But the company is now reporting new potential compliance problems in China.
[…] actions for violating the U.N. regulations or U.S. law, including the Foreign Corrupt Practices Act. Among them are ABB, AB Volvo, Flowserve, Akzo Nobel, Chevron, Siemens, Ingersoll- Rand, York International, Oscar Wyatt, El Paso and Textron. There’s no private right of action under the Foreign Corrupt Practices Act. So Iraq’s claims are based on […]
[…] is not overseas. It’s in the corner office.” Misconduct at the top is now receiving the increased scrutiny it deserves. In a May 2013 symposium, the think-tank Rand Center for Corporate Ethics and Governance asked for analysis and recommendations from compliance experts and leading professionals from the SCCE, ECOA, high-level government officials, FCPA law […]
[…] Exch. Comm’n v. Akzo Nobel, N.V., No. 07-cv-02293 (D.D.C. 2007) (here) U.S. Sec. & Exch. Comm’n v. Chevron Corp., No. 07-cv-10299 (S.D.N.Y 2007) (here) U.S. v. Ingersoll- Rand Italiana S.p.A., No. 07-cr-00294 (D.D.C. 2007); U.S. Sec. & Exch. Comm’n v. Ingersoll-Rand Co. Ltd., No. 07-cv-01955 (D.D.C. 2007) (here) U.S. v. York Int’l Corp., No. […]
[…] in Paris Thursday acquitted 14 companies of bribing the former Iraqi regime to win contracts under the the U.N. oil-for-food program. Renault Trucks, Schneider Electric, and Leg rand were among the companies acquitted, along with several senior managers. Two years ago, a French court also acquitted oil giant Total SA, its chief executive, a […]
[…] regulations or U.S. law, including the Foreign Corrupt Practices Act. Among those discussed in our prior posts are ABB, AB Volvo, Flowserve, Akzo Nobel, Chevron, Siemens, Ingersoll- Rand, York International, Oscar Wyatt, El Paso (successor to Coastal Corp.) and Textron. Others named in the complaint include Air Liquide, Atlas Copco, Boston Scientific, BNP Paribas, […]
[…] and to inflate prices to fund the kickbacks. In addition to GE, other companies charged under the oil-for-food program include Chevron, Total SA, AB Volvo, Innospec, Ingersoll- Rand, Akzo-Nobel, and Fiat. The DOJ did not join the enforcement action against GE or the subsidiaries. It usually prosecutes criminal antibribery offenses under the FCPA, which […]
[…] are implemented throughout the corporate structure and are extended quickly to newly acquired subsidiaries. (See, e.g., Fiat, Faro, Willbros Group, AB Volvo, Flowserve, Westinghouse, Akzo Nobel, Ingersoll- Rand, York, Bristow, Paradigm, Textron, Delta & Pine, Dow). The FCPA/Anti-Bribery Mid-Year Alert 2010 was written by Hughes Hubbard & Reed partners Kevin T. Abikoff, John F. […]