Let’s be honest: Wal-Mart did not introduce bribery to Mexico, or anywhere else. Systemic bribery is a pervasive problem, far greater than any single company or enforcement action. And make no mistake — the citizens of those countries generally will not justify this bribery on the basis of their “culture.”… Continue Reading
I’ve previously argued — following the DOJ’s lead — that the governments in developing countries are usually better understood as the co-conspirators in a bribery scheme than as the victims. So if we want to remedy the harms that resulted from particular bribes, we can’t go through them.… Continue Reading
The proceeds of FCPA enforcement actions currently go directly into the U.S. Treasury. But that need not be so. My proposed Supplemental Transparency Project would use a portion of the settlement proceeds to directly fund programs in the countries where the bribery occurred.… Continue Reading
We’ve talked in this series about how FCPA enforcement could do more to help the overseas victims of bribery. And after a fourteen-post build-up, we’re finally at our destination.
I’d like to propose the Supplemental Transparency Project. … Continue Reading
The announcement could not be more timely. Yesterday, we learned that the government of Scotland has reached an agreement with the Aberdeen-based Abbot Group, setting aside £2 million of a £5.6 million bribery settlement to build rugby and soccer fields in impoverished communities.… Continue Reading
We saw in the last post that neither restitution nor disgorgement will work very well in compensating the victims of overseas corporate bribery.
But here’s something that might.
Look at what the federal enforcement agencies already do in the field of environmental law.… Continue Reading
In the last post I suggested that disgorgement, though a seemingly promising way to compensate victims, may not work. Here’s why.
The Fair Fund provides that disgorged monies may be used for the restitution of victims.… Continue Reading
I’ve argued in this series that we should think of corruption generally, and bribery specifically, as violating human rights — specifically the rights of the citizens of the countries in which bribery occurs.… Continue Reading
Morgan Stanley agreed to waive criminal restitution from its former managing director Garth Peterson after a judge found that he had ‘limited assets’ to fund a planned global settlement with the DOJ and SEC.… Continue Reading
Jack Stanley paid his former employer Kellogg, Brown & Root LLC $9.25 million last week as partial restitution for kickbacks he took when he ran the company.
The DOJ and Alcatel-Lucent this week responded to the petition filed by Costa Rica’s Instituto Costarricense de Electricidad, S.A. (ICE) for victim’s status and restitution.
The DOJ’s filing opened with references to ICE’s “vitriolic allegations and false accusations questioning the motives, competence, and conduct” of the DOJ and SEC.… Continue Reading