Och-Ziff Capital Management Group LLC said Tuesday it has doubled its reserve for an FCPA settlement to more than $400 million.
Och-Ziff Capital Management Group LLC said Tuesday it has reserved $200 million for a settlement of Foreign Corrupt Practices Act offenses arising from alleged bribes in Libya.
The hedge fund firm said it’s now discussing a resolution of criminal and civil charges with the DOJ and SEC.… Continue Reading
Frictionless mobile payments may not be as good as cash for paying bribes and buying contraband, but they’re the next best thing.
At the World Economic Forum in Davos Thursday, Secretary of State John Kerry highlighted the links between corruption and unrest in countries including Libya, Yemen, Burundi, and Iraq.
“Only better governance can rout the scourge of corruption, which costs the global economy $2.6 trillion, blights job prospects, and opens up a vacuum that allows the predators to move in,” he said.… Continue Reading
Federal and New York authorities said Wednesday that Deutsche Bank will pay $258 million and fire six senior employees to resolve investigations into thousands of illegal transactions with customers in Iran, Libya, Syria, Myanmar, and Sudan.… Continue Reading
A court in Norway Tuesday sentenced four former senior executives of Norwegian fertilizer maker Yara International to prison, including the ex-CEO and former top lawyer.
A three-judge panel convicted the defendants of paying about $8 million in bribes in India and Libya to gain access to markets there.… Continue Reading
Canadian engineering and construction giant SNC-Lavalin said Thursday the company and two subsidiaries have been charged with criminal corruption and fraud.
It said the Public Prosecution Service of Canada brought charges against SNC-Lavalin Group Inc.,… Continue Reading
Canada’s biggest engineering and construction firm is recovering more than $13 million, claiming it was a victim of alleged bribes paid to the son of former Libyan dictator Moammar Gadhafi.
The Wall Street Journal’s James Grimaldi and Margaret Coker reported that SNC-Lavalin’s recovery “has surprised many lawyers involved with stolen-asset recovery efforts, because the work has been focused on returning ill-gotten gains to the countries, not firms whose officials paid bribes.”… Continue Reading
The U.S. Attorney in Manhattan is investigating Germany’s Commerzbank AG for alleged violations of money-laundering laws, the Wall Street Journal reported Friday.
A former vice president of SNC-Lavalin wanted in Canada on bribery charges has agreed to a deal with Swiss prosecutors that could lead to his extradition.
French banking giant BNP Paribas agreed to plead guilty to criminal charges and pay an $8.9 billion penalty for transferring billions of dollars on behalf of blacklisted Sudan, Iran and Cuba, U.S.… Continue Reading