Harry Cassin
Publisher and Editor
Andy Spalding
Senior Editor
Jessica Tillipman
Senior Editor
Bill Steinman
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
The UK subsidiary of Swiss mining giant Glencore was ordered to pay £281 million ($314 million) in the United Kingdom on Thursday for bribes in Nigeria, Cameroon, Ivory Coast, Equatorial Guinea, and South Sudan.… Continue Reading
Compliance professionals have known for decades that intermediaries are involved in nearly all FCPA anti-bribery violations. The DOJ and SEC say plainly that FCPA enforcement actions “demonstrate that third parties, including agents, consultants, and distributors, are commonly used to conceal the payment of bribes to foreign officials in international business transactions.”… Continue Reading
Switzerland-based mining and commodities giant Glencore plc on Tuesday settled corruption investigations in the United States, the UK, and Brazil. In the U.S., subsidiary Glencore International AG pleaded guilty to one count of conspiracy to violate the FCPA and agreed to pay $700 million in criminal penalties and forfeiture.… Continue Reading
Last week, Sargeant Marine agreed to pay the DOJ $16.6 million to settle FCPA charges that it bribed officials in multiple South American countries. The bribes it paid in Brazil alone helped the company and its trading affiliate win Petrobras contracts worth $185 million.… Continue Reading
London-based TechnipFMC plc said in an SEC filing Wednesday that it has set aside $280 million for a settlement of bribery-related offenses with authorities in the United States, Brazil, and France.… Continue Reading
Shell companies have been called the “getaway cars” of corruption. In some jurisdictions, including the United States, individuals can easily set up anonymous companies and use them to hide stolen funds.… Continue Reading
The son of Equatorial Guinea’s president went on trial this week in France for embezzling more than $112 million from his country’s treasury.
Teodoro Nguema Obiang Mangue, also known as Teddy Obiang, is the second vice president of Equatorial Guinea.… Continue Reading
A recent paper I published in the Journal of Money Laundering Control looks at a prominent series of cases brought by the United States and France against assets owned by Teodoro Nguema Obiang, Second Vice President of the Republic of Equatorial Guinea and son of the country’s president.… Continue Reading
It is repellent to read how a tiny African country like Equatorial Guinea has been systematically plundered. For the culprit to be a member of the ruling family only adds weight to the wrong.… Continue Reading
The BOTA Foundation was able to take the $115 million from the corruption case associated with James GIffen and use it effectively and efficiently to assist more than 200,000 poor children, youth and their families in Kazakhstan. … Continue Reading
SBM Offshore CEO Bruno Chabas (Image courtesy of SBM)SBM Offshore agreed to pay $240 million to Dutch authorities Wednesday to settle allegations that it bribed government officials in Angola, Brazil, and Equatorial Guinea.… Continue Reading
We reported on Monday that the DOJ had announced a $30 million settlement with a vice president of Equatorial Guinea under its Kleptocracy Initiative. I hope the world noticed the noble and sensible purposes to which DOJ is putting these funds.… Continue Reading
