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
Posts Tagged: Magyar
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
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