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
Shruti J. Shah
Contributing Editor
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
Microsoft Corporation paid the DOJ and SEC $25.3 million Monday to settle FCPA offenses related to its operations in Hungary, Saudi Arabia, Thailand, and Turkey.
A Microsoft subsidiary in Hungary called Microsoft Magyarorszag Kft.… Continue Reading
The Wall Street Journal reported Thursday that the DOJ and SEC are investigating potential bribery and corruption involving the sale of Microsoft products in Hungary.
Microsoft said in a statement to the Journal that it “moved quickly to investigate itself after it became aware of ‘potential wrongdoing’ at its Hungarian operations in 2014.”… Continue Reading
Two former executives of Magyar Telekom who were headed for trial this month against the SEC agreed instead Monday to pay penalties and accept officer-and-director bars to settle FCPA violations.
Magyar Telekom’s former CEO Elek Straub will pay a $250,000 penalty.… Continue Reading
The UK Serious Fraud Office charged another individual Tuesday as part of the ongoing investigation into Alstom.
Terence Stuart Watson, the Alstom Country President for the UK and Managing Director of Alstom Transport UK and Ireland, was charged with violating section 1 of the Prevention of Corruption Act 1906 and with conspiracy to corrupt contrary to section 1 of the Criminal Law Act 197.… Continue Reading
Budapest Metro (Image courtesy of Alstom)The UK Serious Fraud Office said Tuesday that it charged another former Alstom executive for bribing foreign officials.
The SFO charged Jean-Daniel Lainé when he appeared at Westminster Magistrates’ Court.… Continue Reading
Image courtesy of Alstom SAThe UK Serious Fraud Office brought new charges Thursday against a UK subsidiary of Alstom SA and an Alstom employee for alleged corruption in a project to supply trains to the Budapest Metro.… Continue Reading
Since the start of the Ukraine crisis, NATO Secretary General Anders Fogh Rasmussen has called on NATO countries to increase defense spending. Poland has announced plans to accelerate a major military modernization program.… Continue Reading
Ildikó Vida, chief of Hungary’s tax authorityMore than 10,000 Hungarians protested in front of the national Parliament in Budapest Monday evening. Besides expressing their anger toward Prime Minister Viktor Orban’s government, their main demand was that the head of the tax authority, Ildikó Vida, resign.… Continue Reading
Chargé d’Affaires M. André Goodfriend (Embassy photo by Attila Németh)The United States imposed a travel ban on ten Hungarian officials and businessmen, the Hungarian media reported Friday morning. By early afternoon chargé d’affaires of the U.S.… Continue Reading
The director of the UK Serious Fraud Office said the agency is close to making more arrests in its bribery investigation of jet engine maker Rolls-Royce Holdings Plc.
The SFO made two arrests in the case in February when it executed search warrants in London.… Continue Reading
MOL chairman Zsolt HernadiZsolt Hernadi, chairman of Hungarian energy group MOL, will be tried in absentia on graft charges linked to MOL’s purchase of Croatian oil and gas firm INA, a Croatian court said Tuesday.… Continue Reading
K.V.P. Ramachandra RaoThe DOJ asked India to arrest a member of parliament indicted by a federal grand jury in Chicago in early April for a plot to grant mining rights in return for more than $18 million in bribes.… Continue Reading