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
Hewlett-Packard agreed Wednesday to pay more than $108 million to settle FCPA charges brought by the DOJ and SEC.
The Palo Alto, California technology company is paying fines of $74.2 million to resolve the DOJ’s criminal case. … 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 unit of Archer Daniels Midland Company (ADM) pleaded guilty Friday to violating the FCPA by bribing Ukrainian government officials through vendors in exchange for value-added tax (VAT) refunds.
The Ukraine unit — called Alfred C.… Continue Reading
Claiming international anti-corruption related fines, losses and profits will increasingly become a live issue as countries seek to enforce their own domestic and international anti-corruption laws.
Historically, the USA’s anti-corruption agencies have been able to extract large fines and disgorgements from perpetrators with fairly remote U.S.-connections… Continue Reading
The SEC said Thursday that medical device and equipment maker Stryker Corporation will pay $13.2 million to resolve FCPA violations.
Michigan-based Stryker bribed doctors and administrators at government controlled hospitals in Argentina, Greece, Mexico, Poland, and Romania, the SEC said.… Continue Reading
Hewlett Packard said Polish police are investigating some ‘public-sector transactions in Russia, Poland, the Commonwealth of Independent States, and Mexico, among other countries.’
The Polish Central Anti-Corruption Bureau is looking into potential FCPA violations by an employee of Hewlett-Packard Polska Sp.… Continue Reading
Kevin LaCroix has a post about a New York court decision Tuesday allowing Bear Stearns to seek D&O insurance coverage for $160 million in disgorgement it paid as part of an SEC enforcement action.… Continue Reading
We saw in the last post that neither restitution nor disgorgement will work very well in compensating the victims of overseas corporate bribery.
But here’s something that might.
Look at what the federal enforcement agencies already do in the field of environmental law.… Continue Reading
In the last post I suggested that disgorgement, though a seemingly promising way to compensate victims, may not work. Here’s why.
The Fair Fund provides that disgorged monies may be used for the restitution of victims.… Continue Reading
I’ve argued in this series that freedom from bribery is a human right, and that FCPA enforcement should do more to protect those rights.
In the fourth biggest FCPA case ever, French oil giant Total S.A. agreed Wednesday to pay $398 million in penalties and disgorgement for bribing an Iran official to gain access to oil and gas fields.… Continue Reading