Larry Ellison ranked third on Forbes’ list with $41 billion. Last month, his company Oracle paid $2 million to settle civil FCPA charges.… Continue Reading
French defense and security firm Safran was fined €500,000 last week by a court in Paris for bribing government officials in Nigeria.
Officials of Malaysia’s ruling UMNO party, including Prime Minister Najib Razak, left, are denying there was corruption in connection with the $1.25 billion purchase of two submarines from France in 2002.… Continue Reading
France issued an arrest warrant late last month for the son of the president of Equatorial Guinea.
Teodoro Nguema Obiang Mangue, left, known as Teodorin or Teddy, is accused of laundering money from Equatorial Guinea for purchases in France of multi million dollar properties and a fleet of luxury cars.… Continue Reading
An article in today’s Bloomberg Markets Magazine said there were detailed allegations of systematic overseas bribery in a French lawsuit against one of the world’s biggest privately owned companies, Koch Industries.… Continue Reading
Transparency International’s latest report about antibribery enforcement in the OECD breaks down this way:
Active Enforcement: Seven countries: Denmark, Germany, Italy, Norway, Switzerland, United Kingdom, and United States
Moderate Enforcement: Nine countries: Argentina, Belgium, Finland, France, Japan, Korea (South), Netherlands, Spain, and Sweden
Little or No Enforcement: 21 countries: Australia, Austria, Brazil, Bulgaria, Canada, Chile, Czech Republic, Estonia, Greece, Hungary, Ireland, Israel, Luxembourg, Mexico, New Zealand, Poland, Portugal, Slovak Republic, Slovenia, South Africa, and Turkey
For specifics, the report said the United States has 227 cases (prosecutions and investigations) in the 2011 report, up from 169 in 2010; Germany has 135 cases, up from 117; and Brazil reports eight ongoing investigations, up from four in TI’s last report.… Continue Reading
A Swiss federal criminal court last week acquitted a private banker in Zurich of bribery and money laundering charges growing out of his relationship with French firm Alstom SA.
Last month, Tunisia’s citizens decided they’d finally had enough of their kleptomaniacal president Ben Ali, who managed to escape to Saudi Arabia.
By the time of his hasty departure, he’d ruled the country for 23 years and reportedly had expropriated for the private enjoyment of himself and his family about a third of the country’s economy.… Continue Reading
In one of the biggest Foreign Corrupt Practices Act settlements of all time, Paris-based Alcatel-Lucent S.A. will pay $137 million for bribing officials in Costa Rica, Honduras, Malaysia, and Taiwan.
The company and three subsidiaries will pay $92 million to resolve criminal charges with the DOJ and $45 million in disgorgement to the SEC.… Continue Reading