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
A former sales executive of Embraer SA was sentenced Wednesday to time served and fined $25,000 for paying a bribe to help sell jets to the giant oil company, Saudi Aramco.… Continue Reading
A special court in Spain is investigating executives at a state-owned defense company that allegedly paid millions in bribes to win weapons contracts with Saudi Arabia spanning two decades.
Audiencia Nacional, the Spanish court, is investigating five deals between Defex and Riyadh from 1992 to 2004. … Continue Reading
Saudi Arabia changed its law this week to remove the statute of limitations for anti-corruption investigations into current and former ministers of the world’s largest petroleum exporter. … Continue Reading
Your company has just won a major contract with a foreign government, and before you can even break out the champagne, your customer instructs you to engage a specific local subcontractor.… Continue Reading