Brazilian petrochemical maker Braskem S.A. disclosed in an SEC filing late Friday that it is investigating alleged “improper payments” related to an ethylene project in Mexico.… Continue Reading
Odebrecht, the Brazilian construction giant that entered into a $3.5 billion global bribery resolution in December 2016 with authorities in the United States, Brazil, and Switzerland, announced last month the completion of independent external compliance monitoring.… Continue Reading
As enforcement actions against corporate crime grow, so also have coordinated multi-jurisdictional settlements. These are arrangements involving two or more enforcement agencies from different countries wherein the participating agencies agree to cooperate in settling alleged corporate wrongdoing often using common corrective measures.… Continue Reading
In March this year, when the first Chief Anticorruption Prosecutor of Mexico was appointed, few would have bet that within only eight months she would already have 680 cases under investigation.… Continue Reading
The DOJ unsealed an indictment Wednesday charging the former chief executive officer of Braskem S.A. with helping his company and Odebrecht S.A. amass a giant slush fund and use it to bribe officials and political parties in Brazil.… Continue Reading
The Inter-American Development Bank (IDB) announced Wednesday the six-year debarment of more than 20 subsidiaries of Odebrecht S.A. for bribing public officials in connection with two IDB-financed projects.
The IDB said the debarred Odebrecht units are CNO S.A.… Continue Reading
The World Bank Tuesday debarred Brazil-based engineering and construction company Construtora Norberto Odebrecht S.A. for three years for “fraudulent and collusive practices” during a project in Colombia.
Also debarred were Odebrecht construction subsidiaries based in Colombia, Chile, Panama, Peru, Barbados, Angola, the United States, Luxembourg, Austria, and the Cayman Islands.… Continue Reading
A witness in the Odebrecht corruption case in Colombia died this month at his home near Bogota of what appeared to be a heart attack. Three days later his son died from cyanide poisoning. … Continue Reading
Leniency programs (a.k.a. amnesty programs and deferred prosecution agreements) have so far proven the most successful and effective enforcement strategy tool, leading to its widespread adoption worldwide.
At the same time, the business community and competition authorities increasingly face a number of critical challenges to ensuring the continued incentivization and effectiveness of leniency programs.… Continue Reading
Operation Lava Jato (Car Wash), one of the largest anti-corruption cases in the world, has been toiling away over the past four years, bringing corrupt politicians and executives in Brazil to justice.… Continue Reading
On May 9 the DOJ announced a new policy concerning the coordination of penalties imposed by more than one regulator or law enforcement authority in corporate resolutions.
This new policy (pdf) against “piling on” requires DOJ attorneys to “coordinate with one another to avoid the unnecessary imposition of duplicative fines, penalties, and/or forfeiture against [a] company,” and further instructs DOJ personnel to “endeavor, as appropriate, to .… Continue Reading