The UK used its new Magnitsky-style law for the first time last week to sanction 47 individuals and two organizations for their alleged involvement in “some of the most notorious human rights violations and abuses in recent years.”… Continue Reading
A former Alstom sales manager in the United States who helped the DOJ prosecute other company executives and testified at the trial of one of them was sentenced Monday to two years of supervised release.… Continue Reading
A federal judge Wednesday partially acquitted the former Alstom S.A. executive convicted by a federal jury in November of bribing officials in Indonesia, ruling that prosecutors had failed to prove he violated the Foreign Corrupt Practices Act by acting as an agent of Alstom’s Connecticut subsidiary.… Continue Reading
The DOJ unsealed an indictment Tuesday against two former executives of Alstom S.A. and a former executive of the Japanese trading company Marubeni Corporation, for allegedly bribing the head of the state-owned power company in Indonesia and members of parliament there.… Continue Reading
Airbus SE paid $4 billion (€3.6 billion) to settle global bribery and trade charges with French, UK, and U.S. authorities Friday after an eight-year investigation triggered by a British whistleblower.… Continue Reading
In a statement Friday about its recent $1 billion FCPA resolution, Swedish telecom Ericsson made some frank admissions about its bad actors, and provided rare insight into what simultaneous FCPA negotiations with the DOJ and SEC are like.… Continue Reading
One luxury item is showing up more often in alleged graft-related asset seizures: wrist watches, especially the high-end variety with eye-watering price tags.… Continue Reading
A former Alstom SA executive who carried a UK passport, worked in France, and said he never set foot in the United States, was convicted Friday by a federal jury on 11 of 12 counts for his part in a scheme to bribe government officials in Indonesia.… Continue Reading
As Saudi Arabia prepares to assume the G20 presidency, the B20 – or Business 20 – has announced the creation of taskforces to address six thematic priorities in 2020. Featuring prominently this year again is the topic of integrity & compliance, alongside digitalization; energy, sustainability & climate change; finance & infrastructure; future of work & education; and trade & investment.… Continue Reading
Swedish telecom giant Ericsson said Wednesday it reserved around $1.2 billion to resolve an expected FCPA enforcement action by the DOJ and SEC.
The Stockholm-based LM Ericsson Telephone Company said it was cooperating with the DOJ and SEC regarding possible FCPA violations in China, Djibouti, Indonesia, Kuwait, Saudi Arabia, and Vietnam.… Continue Reading
Microsoft Corporation paid the DOJ and SEC $25.3 million Monday to settle FCPA offenses related to its operations in Hungary, Saudi Arabia, Thailand, and Turkey.
A Microsoft subsidiary in Hungary called Microsoft Magyarorszag Kft.… Continue Reading
Gulf Cooperation Council countries have been working since 2014 to weave Shariah-compliant blockchain technology and cryptocurrencies into their existing financial and legal infrastructure.
Current members of the Gulf Cooperation Council, known as the GCC, are Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.… Continue Reading