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
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
The FCPA Blog started publishing its list of the ten biggest FCPA corporate enforcement actions about a dozen years ago. Since then, I’ve written a lot about the top ten list, and I even did a series of talks, mainly in Asia, using the top ten list as a way to understand FCPA enforcement policy and attitudes toward compliance.… 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
A former executive of Hungary-based Magyar Telekom settled five-year- old civil allegations that he violated the FCPA.
Tamas Morvai agreed last week to pay the SEC a $60,000 penalty without admitting or denying the charges.… Continue Reading
As first reported last week by Sam Rubenfeld of the Wall Street Journal, the SEC dropped internal controls charges in a civil FCPA action against a current and a former executive at Noble Corporation in order to “streamline the presentation” of the case.… Continue Reading
Last week, in the case Gabelli v. SEC, the U.S. Supreme Court unanimously held that the Securities and Exchange Commission, when seeking a penalty or fine in connection with a civil enforcement action, must file the action within five years of the completion of the alleged fraud or wrongful conduct.… Continue Reading
A federal district court in New York City issued an order Friday denying a motion to dismiss a civil FCPA enforcement action against three executives of Magyar Telekom Plc.
In December 2011, the SEC sued Elek Straub, Andras Balogh, and Tamas Morvai for FCPA violations.… Continue Reading
For most of us, December means giant year-end bonuses, moving to bigger houses, and getaways to the Turks and Caicos. No, that’s not true.
But it is true that for the FCPA, December can mean big news.… Continue Reading
Since we listed the top ten FCPA disgorgements a year ago, two new companies joined the list — Johnson & Johnson and Magyar Telekom. They replaced GE and Baker Hughes.… Continue Reading
Here’s the current top ten list for corporate defendants.*
Magyar Telekom and Deutsche Telekom (part of one enforcement action) today replaced Johnson & Johnson, which joined the list in April this year.… Continue Reading
Magyar Telekom Plc of Hungary and its majority owner Deutsche Telekom AG of Germany will pay a combined $63.9 million criminal penalty to the DOJ to resolve Foreign Corrupt Practices Act charges.… Continue Reading
[Editor’s note: This post was updated here.]
Thom Weidlich of Bloomberg has just reported from federal court in Manhattan that the SEC has filed a civil suit againt Deutsche Telekom AG and its Magyar Telekom unit for FCPA offenses.… Continue Reading
Hungary’s Magyar Telekom has reserved about $62 million for an expected settlement of FCPA-related charges with the SEC, according to reports by Reuters and others.
The company’s internal investigation found potentially illegal payments of about $44 million by its Montenegrin or Macedonian units.… Continue Reading