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
The African Development Bank said Thursday it debarred several former Alstom companies now owned by GE Power for up to 76 months because of fraud and bribery committed on two bank-financed projects in Egypt.… Continue Reading
The DOJ’s Yates Memo is nearly a year old. The anti-corruption and compliance communities are still wondering what impact it will have on individual responsibility for white collar crimes. That in turn has brought more interest about past prison sentences for FCPA offenses and what future defendants might expect when sentenced.… Continue Reading
During the first calendar quarter, there were two corporate FCPA enforcement actions — both through SEC administrative orders — and one individual resolution.
(Last year in Q1 there were two corporate enforcement actions and two individual Siemens-related actions).… Continue Reading
A ex-Bechtel Corporation vice president was sentenced Monday to 42 months in prison for taking $5.2 million in kickbacks to rig bids for state-run power contracts in Egypt.
Asem Elgawhary, 73, of Potomac, Maryland pleaded guilty in December 2014 to mail fraud, conspiracy to commit money laundering, obstruction, and interference with the administration of the tax laws. … Continue Reading
Alstom Chief Executive Officer Patrick Kron (Image courtesy of Alstom)Paris-based Alstom pleaded guilty Monday to bribing officials in Indonesia, Saudi Arabia, Egypt, and the Bahamas. It will pay $772 million in criminal penalties to settle the charges, the DOJ said.… Continue Reading
A former top executive of Bechtel Corporation pleaded guilty Thursday for taking $5.2 million in kickbacks to rig bids for state-run power contracts in Egypt.
Asem Elgawhary, 73, of Potomac, Maryland, entered his plea in federal court in Maryland to mail fraud, conspiracy to commit money laundering, and obstruction and interference with the administration of the tax laws. … Continue Reading