During the second calendar quarter — amid the Covid-19 lockdown — there were two corporate FCPA enforcement actions. For comparison, during the second calendar quarter last year, there were three corporate FCPA enforcement actions, and during Q2 2018, there were five corporate FCPA enforcement actions.… Continue Reading
Italian oil giant Eni S.p.A agreed Friday to settle FCPA offenses related to its subsidiary’s use of a “wholly unequipped” intermediary to win government oil contracts in Algeria.… Continue Reading
The former CEO and former chief operations officer of Monaco-based Unaoil pleaded guilty in March to arranging millions in bribes to officials in at least ten countries, and a former Unaoil business development director pleaded guilty in August last year, the DOJ said Wednesday.… Continue Reading
The law firm at the center of the Panama Papers leak may have helped facilitate an alleged multi-million corruption scheme tied to Sonatrach contracts won by Saipem.
The International Consortium of Investigative Journalists said Mossack Fonesca helped Farid Bedjaoui create a Swiss bank account that was used to purchase “shelf” companies in the Caribbean. … Continue Reading
An Algeria criminal court sentenced six people to jail and sanctioned two companies for corruption connected to contracts with state-owned energy firm Sonatrach.
The defendants were charged with corruption offenses ranging from embezzling public funds and money laundering to inflating the price of contracts and accepting bribes.… Continue Reading
A judge in Milan ordered Italian oil and gas services firm Saipem to go on trial for alleged bribery in Algeria.
Prosecutors said the company bribed Algeria officials to win work from state-owned energy firm Sonatrach.… Continue Reading
Two senior managers of the China Roads and Bridge Construction Company were arrested in Kenya for allegedly giving bribes to highway authority officials to cover up the use of overloaded trucks.… Continue Reading
An Algerian court Thursday jailed 14 people and fined seven foreign companies after they were found guilty of corruption, money laundering, and embezzling public funds in a huge highway construction project.… Continue Reading
A corruption trial involving former executives at Algeria’s state-owned oil company Sonatrach was adjourned Sunday shortly after it began when witnesses failed to appear.
The trial was postponed until next month at the request of defense attorneys after several witnesses were no shows.… Continue Reading
The U.S. Treasury Department’s Financial Crimes Enforcement Network sets risk-based compliance obligations of U.S. financial institutions. FinCEN directs counter-measures against the countries with the highest risk and enhanced due diligence against others.… Continue Reading