FCPA-related jury trials are rare. In some years there might be one but in many years there are none. This year, however, there were three, ending in convictions of four defendants.… Continue Reading
A year ago, we wrote here about the enactment and possible implications of a new law in China preventing China-based individuals and entities, including the China-based subsidiaries of non-Chinese companies, from providing certain assistance in criminal proceedings outside of China.… Continue Reading
Barclays PLC paid the SEC $6.3 million Friday to settle FCPA offenses related to the hiring of relatives of public officials in Asia.
The British bank disgorged $3.8 million and paid a $1.5 million penalty to the SEC, plus pre-judgment interest of $984,000.… Continue Reading
Hong Kong’s anti-corruption agency said Thursday it has charged JPMorgan’s former Asia investment banking vice chair with two counts of bribery for trying to hire the son of an IPO client.… Continue Reading
Hong Kong’s former home secretary was sentenced to three years in prison Monday for bribing African officials on behalf of a Chinese energy company.
Patrick Ho, 69, was also ordered to pay a $400,000 fine, the DOJ said.
In December, Ho was found guilty after a one-week trial in the Southern District of New York.
He was convicted by a jury on seven counts — one count of conspiring to violate the Foreign Corrupt Practices Act, four counts of violating the FCPA, one count of conspiring to commit international money laundering, and one count of committing international money laundering.
The jury acquitted Ho on one money-laundering count.… Continue Reading
Hong Kong’s former home secretary was convicted by a Manhattan federal jury Wednesday for bribing African officials on behalf of a Chinese energy company.
Patrick Ho, 69, was found guilty after a one-week trial in the Southern District of New York.… Continue Reading
Low Taek Jho is being hunted by governments around the globe for his role in the $4.5 billion looting of Malaysia’s sovereign wealth fund, 1MDB.
Jho Low, as he’s often called, is a 36-year-old Malaysian who’s sought by U.S., Swiss, Singapore, and Malaysian authorities.… Continue Reading
Credit Suisse Group AG and its Hong Kong unit agreed Thursday to pay the DOJ and SEC $76.7 million for a referral hiring scheme that violated the Foreign Corrupt Practices Act.… Continue Reading
Banking giant Credit Suisse Group AG said Wednesday it has agreed to pay a $47 million penalty to the Justice Department to end an FCPA investigation into hiring practices in Asia.… Continue Reading
It’s typical for issuers to warn about corruption risks in Russia and China, and parts of Africa. But Hong Kong?
So, does Legacy Education Alliance Inc. know something the rest of us don’t?… Continue Reading
While Hong Kong has generally been regarded as one of the least corrupt places in the world, with a rather clean government and disciplined services, the facts revealed in a recent corruption trial against two police officers and a businessman raised concerns about the wider integrity of the police department.… Continue Reading