News and commentary about white-collar crime, enforcement, and compliance
Harry Cassin
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Richard L. Cassin
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Thomas Fox
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Marc Alain Bohn
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Russell A. Stamets
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Eric Carlson
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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
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.,… Continue Reading
Last week, Ng Lap Seng, a billionaire real estate developer from Macau, was sentenced to four years in federal prison for bribing two UN bigshots.
Macau, like Hong Kong, is a Special Administrative Region of China.… Continue Reading
A Macau-based real estate developer who bribed UN officials in exchange for support for a conference center was sentenced Friday to 48 months in prison.
Ng Lap Seng, also known as David Ng, was fined $1 million and ordered to pay more than $300,000 in restitution to the United Nations.… Continue Reading
A federal jury in Manhattan Thursday found Macau billionaire Ng Lap Seng guilty of bribing two United Nations officials in exchange for help promoting development of a conference center.
Ng, 69, was convicted following a four-week trial.… Continue Reading
Las Vegas Sands Corp. agreed Thursday to pay a criminal fine of nearly $7 million for Foreign Corrupt Practices Act offenses in China and Macau.
The casino and resort operator admitted that from 2006 through 2009, it paid $5.8 million to a China consultant “without any discernable legitimate business purpose.”… Continue Reading
The DOJ filed a superseding indictment in federal court in Manhattan Tuesday against a Macau developer accused of bribing the former president of the United Nations General Assembly.
Ng Lap Seng now faces FCPA charges for paying at least $500,000 in bribes to John Ashe.… Continue Reading
Las Vegas Sands Corp. agreed Thursday to pay a $9 million penalty to settle charges that it violated the Foreign Corrupt Practices Act by failing to properly authorize or document millions of dollars in payments to a consultant hired to help it do business in China and Macau.… Continue Reading
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) Thursday imposed “special measure five” against Tanzania-based FBME Bank Ltd, formerly known as the Federal Bank of the Middle East.… Continue Reading
This post continues from Part One: Vicarious Liability and Part Two: A Flock of Foreign Officials.
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Third party agents, rather than direct employees, cause many FCPA violations.… Continue Reading
China has launched a crackdown on illicit money flows to Macau as part of efforts to combat money laundering and corruption, the South China Morning Post reported.
The mainland’s Ministry of Public Security held a meeting with Macau regulators last month to address criminal activities related to the use of mainland bank cards and point-of-sale terminals in Macau.… Continue Reading
Hong Kong billionaire Joseph Lau Luen-hung, chairman and CEO of Chinese Estates Holdings Ltd., was convicted of bribery and money-laundering in Macau on Friday.
Lau was sentenced to five years and three months in prison by Macau’s Court of First Instance.… Continue Reading