News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
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
Bill Steinman
Contributing Editor
It’s a scenario that FCPA practitioners see all too regularly. A due diligence report regarding an intermediary reveals that it’s organized not in its home jurisdiction, but in Cyprus. Or Guernsey.… Continue Reading
Image courtesy of AvonAvon’s $135 million settlement with the DOJ and SEC earlier this month included a disgorgement to the SEC with interest that ranks 8th on our list of the biggest FCPA disgorgements.… Continue Reading
Bio-Rad Laboratories paid a total of $55 million Monday to settle FCPA offenses. About $40 million of that went to the SEC as disgorgement. That payment landed tenth on our list of the biggest FCPA-related disgorgements.… Continue Reading
Hewlett-Packard’s $108 million settlement this week didn’t quite make our list of the top ten FCPA cases of all time. But with a disgorgement to the SEC of $26.4 million, H-P landed eleventh on the list of the biggest FCPA disgorgements.… Continue Reading
As part of its $354 million settlement this week, Alcoa agreed to pay the third biggest disgorgement in FCPA history — $161 million.
What is disgorgement? It’s a remedy, according to our contributing editor Marc Alain Bohn, authorized by the Securities Exchange Act of 1934 that’s ‘used to deprive wrong-doers of their ill-gotten gains and deter violations of federal securities law.’… Continue Reading
A U.S. federal judge Tuesday threw out a civil lawsuit filed Mexico’s state-owned oil company Pemex against Siemens AG and a South Korea’s SK Engineering that alleged bribes to Pemex officials.… Continue Reading
As part of its $398 million settlement Wednesday, Total S.A. agreed with the SEC to disgorge $153 million of profit made from its bribery in Iran. That’s the third biggest disgorgement in FCPA history.… Continue Reading
We saw in yesterday’s post that awarding restitution to the governments whose employees accepted (or solicited) the bribes doesn’t quite work.
But can’t we think of a workaround? Can we somehow bypass the government?… Continue Reading
I’ve argued in this series (see links to the prior posts below) and in this paper that FCPA enforcement should benefit the victims of bribery — namely, the citizens of the countries in which the bribery occurs.… Continue Reading
An account executive with Alcatel Malaysia was sentenced to two years in prison and fined about $40,000 last week after being convicted in a Kuala Lumpur court of bribing a procurement official at state-owned Telekom Malaysia Berhad.… Continue Reading
As reported by the FCPA Professor last week, Costa Rica’s Instituto Costarricense De Electricidad (ICE) filed a Petition for Writ of Certiorari in the U.S. Supreme Court in November.
In its Petition, ICE asks the following question, “Whether a crime victim who is denied rights conferred by the federal Crime Victims’ Rights Act has a right to directly appeal the denial of those rights?”… Continue Reading
For most of us, December means giant year-end bonuses, moving to bigger houses, and getaways to the Turks and Caicos. No, that’s not true.
But it is true that for the FCPA, December can mean big news.… Continue Reading