In a statement Friday about its recent $1 billion FCPA resolution, Swedish telecom Ericsson made some frank admissions about its bad actors, and provided rare insight into what simultaneous FCPA negotiations with the DOJ and SEC are like.… Continue Reading
Posts Tagged: Kuwait
Swedish telecom Ericsson agreed Friday to pay the DOJ and SEC over $1 billion in one of the biggest Foreign Corrupt Practices Act enforcement actions ever.… Continue Reading
Swedish telecom giant Ericsson said Wednesday it reserved around $1.2 billion to resolve an expected FCPA enforcement action by the DOJ and SEC.
The Stockholm-based LM Ericsson Telephone Company said it was cooperating with the DOJ and SEC regarding possible FCPA violations in China, Djibouti, Indonesia, Kuwait, Saudi Arabia, and Vietnam.… Continue Reading
A little-noticed nugget in the recent Stryker SEC Order (Stryker II) — in addition to overbilling, kickbacks, and using unvetted intermediaries in India and China — was the allegation that Stryker’s “Kuwait Distributor made over $32,000 in improper ‘per diem’ payments to Kuwaiti [healthcare providers] to attend Stryker events, when Stryker had directly paid the costs for lodging, meals, and local transportation for these individuals.” … Continue Reading
United Technologies Corporation agreed Wednesday to pay the SEC $13.9 million to resolve charges that it violated the FCPA by making illicit payments in its elevator and aircraft engine businesses.
United Technologies subsidiary Otis Elevator Co.… Continue Reading
Two former senior executives of Louis Berger International were sentenced for bribing officials for more than a decade to win contracts in India, Indonesia, Vietnam, and Kuwait.
James McClung, 60, of Dubai was sentenced Thursday to a year and a day in jail.… Continue Reading
FMC Technologies received “an inquiry” from the Justice Department as part an investigation into whether services Unaoil provided to clients, including FMC, violated the Foreign Corrupt Practices Act.… Continue Reading
UK oil services firm Petrofac PLC said it launched an investigation into allegations of bribery to win contracts Kazakhstan and the Middle East.
A former vice president of defense contractor IAP Worldwide Service was sentenced in federal court in Virginia Friday to 120 days in prison.
Police sources in India said the former chief minister of the India state of Goa allegedly “blackmailed” Louis Berger International by refusing to approve work permits and invoices until the company paid bribes.… Continue Reading