Costa Rica recently strengthened its anti-corruption regime for the first time since 2005 by imposing corporate criminal liability for all corruption offenses and setting out the basic elements that a compliance program must have in order to obtain a reduction of the criminal fine.… Continue Reading
Olympus Corporation of the Americas said Tuesday it settled two separate U.S. investigations, including one involving Foreign Corrupt Practices Act offenses.
The company’s Latin America unit agreed to pay $22.8 million to resolve criminal allegations that it violated the FCPA.… Continue Reading
An Italian businessman who built a $350 million empire on cleaning contracts and industrial maintenance was arrested in Spain on charges embezzlement, bankruptcy fraud, money laundering, and tax offenses.
Giovanni De Pierro controlled nearly 100 companies, 174 pieces of real estate, 32 vehicles, and two large yachts, the Organized Crime and Corruption Reporting Project said Monday.… 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
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
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
A recent University of Chicago Legal Forum article looks deep into an important new enforcement trend — duplicative enforcement actions in multiple countries.
Aon Corporation, one of the biggest insurance brokerage firms in the world, agreed today to resolve FCPA charges with the DOJ and SEC.
It will pay a $1.76 million criminal penalty to the DOJ and $14.5 million in disgorgement and prejudgment interest to the SEC.… Continue Reading