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Editors

Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

Posts Tagged: Saudi Arabia

Nabors wins declination

Oil services firm Nabors Industries Ltd. said Wednesday the DOJ won’t bring an FCPA enforcement action after an investigation first launched more than five years ago.

Nabors was a customer of Panalpina but not among the seven companies that settled FCPA cases on the same day in November 2010.… Continue Reading

New problems for EADS after office raids

German police raided and searched the German offices of EADS Tuesday.

Sources said the raid was connected to an investigation into the defense contractor’s sale of military aircraft to Austria.

In the U.K.,… Continue Reading

SEC declination for Nabors

Oil services firm Nabors Industries Ltd. was a customer of Panalpina but not among the six that settled FCPA cases on the same historic day in November 2010.

Panalpina, a Swiss-based logistics firm, admitted paying bribes to help customers move their drill rigs and other equipment in and out of Kazakhstan, Saudi Arabia, Algeria and Nigeria, among others.… Continue Reading

Tyco in $26 million settlement with DOJ and SEC

Tyco International Ltd. agreed on Monday to pay criminal and civil penalties totaling more than $26 million to resolve Foreign Corrupt Practices Act violations.

The Switzerland-based maker of fire security products paid more than $13.6 million in criminal penalties to the DOJ, and $13 million in civil penalties to the SEC.… Continue Reading

Will the DOJ ask BAE to squeal on EADS?

Britain’s BAE Systems and Europe’s EADS are proposing to merge, they said earlier this month, to create a defense giant capable of competing against Boeing and Lockheed Martin.

BAE is one of the biggest military contractors to the U.S.… Continue Reading

The Story Of Graft

One of the most glaring, if unremarked, oddities concerning China nowadays is how perceptions of its leaders diverge depending on the observer. In the eyes of the Chinese public, government officials are venal, incompetent, and interested solely in getting lucrative appointments.… Continue Reading

Report: EADS Execs Knew About Payments

The Financial Times said Tuesday that an internal financial controller alerted senior EADS executives as early as 2007 that alleged bribes might be going to Saudi Arabian officials.

Carola Hoyos, the Times’ defense correspondent, said the financial controller was concerned about payments to Cayman Island bank accounts and gifts to Saudi royal family members and military officials.… Continue Reading

SFO Launches Criminal Investigation Of EADS Subsidiary

The U.K. Serious Fraud Office said this week it is investigating possible bribes in Saudi Arabia by a company owned by European defense contractor EADS.

A former employee of Britain-based GPT Special Project Management Ltd reportedly said the company gave Saudi Arabian officials cars, jewellery, and cash to win a £2 billion communications contract.… Continue Reading

Embraer Hit With SEC Subpoena

Brazilian aircraft maker Embraer said this week it received a subpoena from the U.S. Securities and Exchange Commission relating to possible violations of the Foreign Corrupt Practices Act.

Embraer is the world’s third largest commercial aircraft manufacturer.… Continue Reading

Is EADS BAE All Over Again?

A report this week in the Telegraph said the U.K. Serious Fraud Office is waiting for approval from the attorney general before pursuing a full-scale bribery investigation into EADS, the European aerospace giant. … Continue Reading