New List: The FCPA Top 40
Richard L. Cassin
December 12, 2019
Here’s the FCPA Blog’s list of the 40 biggest Foreign Corrupt Practices Act resolutions of all time.… Continue Reading
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Richard L. Cassin
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Posts Tagged: Och-Ziff
Ericsson’s FCPA disgorgement is second biggest. But is it legal?
Richard L. Cassin
December 10, 2019
Last week’s $1.06 billion blockbuster resolution by Sweden’s Ericsson included disgorgement to the SEC of $540 million. By our count that’s the second biggest disgorgement ever ordered in an FCPA enforcement action.… Continue Reading
Judge rules FCPA claims against Och-Ziff ‘masterminds’ are time barred
Richard L. Cassin
July 16, 2018
A federal judge in Brooklyn dismissed the SEC’s civil suit against two former executives of fund manager Och-Ziff Capital Management Group that accused them of violating the Foreign Corrupt Practices Act by orchestrating massive bribes across Africa.… Continue Reading
Hating on the FCPA won’t make it go away
Richard L. Cassin
June 8, 2018
The lawyer from Europe was quick to tell us what she thinks of the FCPA. “It’s really just a weapon against non-U.S. companies,” she said. “Very bad.”
As evidence she cited the FCPA Blog’s Top Ten list.… Continue Reading
Legg Mason resolves Libya-related FCPA charges for $64 million
Richard L. Cassin
June 4, 2018
Legg Mason Inc., a Maryland-based investment management firm, settled FCPA violations in Libya caused by its partner Société Générale S.A., by agreeing Monday to pay $64.2 million in penalties and disgorgement.… Continue Reading
SocGen pays $585 million to resolve Libya FCPA offenses
Richard L. Cassin
June 4, 2018
In the first coordinated enforcement action by the DOJ and French authorities in an overseas corruption case, a Paris-based bank agreed Monday to settle charges that it paid over $90 million in bribes to officials in Libya during the Qaddafi regime.… Continue Reading
Legg Mason reserves $67 million for FCPA settlement
Richard L. Cassin
May 31, 2018
Fund manager Legg Mason, Inc. said Wednesday it expects a settlement soon of a Foreign Corrupt Practices Act investigation into a unit that managed money for the Libyan government.
The investigation concerns Permal Group’s Libya deals from 2005 to 2007.… Continue Reading
More Och-Ziff fallout: FCPA defendant Michael Cohen indicted for fraud
Richard L. Cassin
January 4, 2018
A former hedge fund highflier charged last year with civil FCPA violations is now indicted for defrauding a big charitable foundation by hiding his conflicts of interest in a multi-million dollar investment deal.… Continue Reading
Richard Bistrong: I wanted to go home, the judge wanted me in jail
Richard Bistrong
June 13, 2017
A few weeks ago, I read about an “exasperated federal judge” at the sentencing of Samuel Mebiame, the 43-year-old son of the former prime minister of Gabon, who was an intermediary for Och-Ziff. … Continue Reading
Supreme Court limits SEC disgorgement power
Richard L. Cassin
June 6, 2017
The U.S. Supreme Court Monday ruled 9-0 to limit the Securities and Exchange Commission’s legal authority to recover ill-gotten profits from defendants.
The Supreme Court in Kokesh v. SEC said the SEC’s use of the remedy known as disgorgement is subject to a five-year statute of limitations.… Continue Reading
Former Och-Ziff middleman jailed two years
Richard L. Cassin
June 1, 2017
The son of a former Prime Minister of Gabon was sentenced Wednesday to two years in prison for conspiring to violate the Foreign Corrupt Practices Act by bribing government officials in Africa.… Continue Reading
Resource Alert: New guidance on corruption red flags in oil, gas and mining deals
Alexandra Gillies and Aaron Sayne
April 25, 2017
An oil and gas or mining company can avoid all kinds of reputational and legal challenges by swearing off deals with certain corruption warning signs. This month’s developments in an evolving scandal might have Royal Dutch Shell wishing it had done so.… Continue Reading