Enforcement actions by U.S. and European enforcement agencies as well as the World Bank have drawn attention to bribery offenses committed by multinational companies in Russia and other former Soviet republics, in particular in Central Asia.… Continue Reading
Big pharma Sanofi agreed Tuesday to pay $25.2 million to resolve charges that it paid bribes across the Middle East and in Kazakhstan to win business.… Continue Reading
The DOJ unsealed FCPA charges against five men Tuesday for a bribery plot to help Rolls-Royce win an equipment contract on a gas pipeline from Kazakhstan to China.… Continue Reading
Oilfield services firm Petrofac said Thursday it suspended its chief operating officer Marwan Chedid during a corruption investigation.
As noted in my previous post, BOTA has been cited by several major newspapers in recent months as the most successful example that the United States has for accountable, transparent and effective return of recovered corruption assets, and in its final report on the foundation, the World Bank called BOTA “a remarkable achievement.”
To what can we attribute BOTA’s success?… Continue Reading
The agreement to start the Foundation emerged in 2007 after more than two years of discussion between the Governments of the United States, Switzerland and Kazakhstan (known as “the Parties”) about the disposition of $84 million, plus interest, that had been frozen in a Swiss account since 1999.
That account was controlled by the Government of Kazakhstan.
The funds in it were suspected by the U.S.… Continue Reading
Oil and gas services firm KBR said in its quarterly report Friday that the DOJ has contacted the company in connection with an investigation of Unaoil.
The Huffington Post/Fairfax Media reported a month ago that Monaco-based Unaoil acted as an intermediary to pay bribes for big international companies, mainly from the oil and gas sector.… Continue Reading