The World Bank debarred a Chinese state-owned engineering and construction company Wednesday for 15 months for fraud involving a project in China.… Continue Reading
Posts Tagged: China
The Justice Department Thursday charged two former Herbalife executives with bribing Chinese officials for ten years and covering it up by lying to the SEC and destroying evidence.… Continue Reading
A Canadian clean fuel technology company and its former chief executive officer agreed Friday to pay more than $4.1 million to the SEC to resolve charges that they violated the Foreign Corrupt Practices Act by bribing a government official in China.… Continue Reading
Quad/Graphics Inc. agreed Thursday to pay the SEC nearly $10 million to settle violations of the Foreign Corrupt Practices Act for long-running bribery schemes and cover-ups in Peru and China.
The Sussex, Wisconsin print and digital marketing company disgorged $6.9 million and prejudgment interest of about $960,000, and agreed to pay a civil penalty of $2 million.… Continue Reading
Swedish telecom giant Ericsson said Wednesday it reserved around $1.2 billion to resolve an expected FCPA enforcement action by the DOJ and SEC.
The Stockholm-based LM Ericsson Telephone Company said it was cooperating with the DOJ and SEC regarding possible FCPA violations in China, Djibouti, Indonesia, Kuwait, Saudi Arabia, and Vietnam.… Continue Reading
The World Bank announced the debarments of Indonesian, Chinese, and Spanish companies Wednesday in three unrelated actions.
PT. Suburo Jayana Indah Corp. (Sujainco) was debarred for two years for “fraud and collusion” on the World Bank funded Water Resources and Irrigation Sector Management Program (Phase II) project in Indonesia. … Continue Reading
The World Bank debarred a state-owned Chinese engineering and construction company Wednesday for 20 months for fraud involving a project in the Republic of Zambia.
China Energy Engineering Group Hunan Electric Power Design Institute Co.,… Continue Reading
Numerous stories have appeared in the English-language press about China’s social credit system (SCS). Most of these stories focus on SCS’s system of “scoring” individuals in China. But SCS also applies to companies operating in China and, as it develops, may impact how companies approach anti-corruption compliance. … Continue Reading
Juniper Networks paid the SEC $11.7 million Thursday to settle FCPA offenses related to its sales practices in Russia and China.
The American technology company disgorged $4 million and paid a $6.5 million penalty to the SEC, plus pre-judgment interest of $1.3 million.… Continue Reading
Deutsche Bank paid the SEC $16 million Thursday to settle FCPA offenses related to its hiring of relatives of public officials in China and Russia.… Continue Reading
Walmart Inc. agreed Thursday to pay the DOJ and SEC $282 million to settle allegations that it violated the Foreign Corrupt Practices by paying an intermediary in Brazil for help obtaining construction permits and having weak anti-corruption internal controls in Brazil, China, India, and Mexico.… Continue Reading
The first Chinese citizen to head Interpol pleaded guilty in a court in China Thursday to taking $2 million in bribes.
Meng Hongwei admitted during a hearing at Tianjin No 1 Intermediate People’s Court that he helped companies “make illegal gains.”… Continue Reading