The world’s biggest provider of dialysis equipment and services agreed Friday to pay the DOJ and SEC $231 million in penalties and disgorgement to resolve violations of the Foreign Corrupt Practices Act across Africa, the Middle East, and Europe.… Continue Reading
Posts Tagged: Germany
Hempel A/S said Monday it paid about $33.4 million to enforcement agencies in Denmark and Germany to resolve allegations of bribery.
The company said it discovered “illegal sales practices” in April 2017 “in Germany, other countries in Europe and in Asia.”… Continue Reading
The Pennsylvania-based consultant who bribed an officer at the European Bank for Reconstruction and Development for loan approvals lost his appeal against a 60-month prison sentence for violating the Foreign Corrupt Practices Act.… Continue Reading
In Control Risks’ experience, many Germany companies operating internationally still underestimate the reach of their own country’s anti-corruption laws. A new report published by the OECD shows why this could be a dangerous mistake.… Continue Reading
The DOJ unsealed an indictment Thursday charging the former head of Germany’s biggest company with helping hide emissions cheating software used to deceive U.S. regulators and car buyers.
Martin Winterkorn, 70, Volkswagen’s former chief executive, was charged in a sixteen-count indictment with conspiracy and wire fraud.… Continue Reading
Fresenius Medical Care AG said in a securities filing Tuesday that it has set aside €200 million ($245 million) for a potential FCPA resolution with the DOJ and SEC.
Fresenius, based in Homburg, Germany, said the money “represents an estimate from a range of potential outcomes.”… Continue Reading
Earlier this month, Oliver Schmidt, 48, a German citizen and the former general manager of Volkswagen AG’s U.S. Environment and Engineering Office, was sentenced to 84 months in prison for helping VW cheat on diesel emissions tests and covering up the scheme.… Continue Reading
The World Bank debarred Fichtner GmbH & Co. KG for fifteen months after a former employee took bribes to influence contract awards on a project in Africa.
Stuttgart-based Fichtner has about 1,500 employees worldwide.… Continue Reading
How far is it feasible to apply a global compliance policy in widely differing regional markets? And to what extent should there be local policy exceptions?
In Control Risks’ 2017 International Business Attitudes to Compliance survey, a majority of respondents (55 percent) say that their global compliance policy applies worldwide, without any local exceptions.… Continue Reading
International investigations are the heart and soul of FCPA inquiries. As denoted by its title, the Foreign Corrupt Practices Act deals with bribes and offers to foreign officials and those of foreign state owned enterprises.… Continue Reading
Airbus Group SE said Thursday that French investigators have opened a preliminary investigation into allegations of fraud, bribery, and corruption in the company’s civil aviation business.
France’s financial crimes investigator — the Parquet National Financier — is investigating the same allegations already being probed by the UK Serious Fraud Office.… Continue Reading
Volkswagen AG agreed Wednesday to plead guilty to three felony counts and pay a $2.8 billion criminal penalty for selling 590,000 diesel vehicles in the United States by cheating on federal and state emissions tests and lying to regulators.… Continue Reading