News and commentary about white-collar crime, enforcement, and compliance
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
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
The former chairman of Goldman Sachs in Southeast Asia settled civil FCPA charges with the SEC Monday for his role in the looting of the Malaysian sovereign wealth fund 1MDB.… 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
Amsterdam-based VimpelCom Limited, the world’s sixth-largest telecommunications company, and its wholly owned Uzbek subsidiary, Unitel LLC, entered into resolutions with the DOJ, SEC, and Dutch authorities Thursday for paying more than $114 million in bribes to a government official in Uzbekistan between 2006 and 2012.… Continue Reading
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) fined Silicon Valley star Ripple Labs $700,000 Tuesday for selling its virtual currency without registering with FinCEN and for not having an anti-money laundering program.… Continue Reading
A federal court in Florida last week granted a request by prosecutors to seize three properties and various restaurant equipment from Mamadie Touré.
Touré, left, is the widow of Lansana Conté, a dictator who ruled the west African country of Guinea for 24 years before he died in 2008.… Continue Reading
With most enforcement pressure bearing down on corporate supply side bribe payers, it is no surprise that the business community feels beleaguered. The fundamental unfairness is of course the impunity with which bribe takers operate, a frequent topic on the FCPA Blog.… Continue Reading
Foreign countries helping China catch corrupt officials who have fled overseas with their illicit gains can share up to 80% of their forfeited assets, said a criminal law expert.
As part of the “Operation Fox Hunt 2014” launched in July, 180 fugitives of economic crimes have been extradited or persuaded to return to China, according to the Public Security Ministry.… Continue Reading
The DOJ said last week it will settle a corruption-related civil forfeiture action involving more than $70 million in U.S. assets amassed by the son of Equatorial Guinea’s dictator.
The terms of any settlement with Teodoro Ngeuma Obiang, known as Teddy, aren’t final, 100Reporters said.… Continue Reading
The U.S. government is selling bitcoins worth $18 million through an auction later this month.
The DOJ seized the 29,000 virtual bitcoins from the Silk Road website last year.
Silkroad allegedly provided a sales platform for illegal drugs and other contraband.… Continue Reading
Here’s Alcoa’s disclosure from its Form 8-K filed with the SEC on January 10 about the FCPA enforcement action that landed 5th on our Top Ten list:
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On January 9, 2014, Alcoa Inc.… Continue Reading
U.S. Attorney Preet Bharara said Tuesday the United States has filed a civil forfeiture action against the assets of nine companies that own real estate in Manhattan. The complaint targets four luxury residential units and two high-end commercial spaces.… Continue Reading