News and commentary about white-collar crime, enforcement, and compliance
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
Image courtesy of SchlumbergerThe Treasury Department’s Office of Foreign Assets Control won’t impose more fines on Schlumberger for “knowingly and willfully” violating the Iran and Sudan sanctions.
In March, a unit of Paris-based Schlumberger Ltd.… Continue Reading
Image courtesy of SchlumbergerThe DOJ and Commerce Department said Wednesday a unit of Paris-based Schlumberger Ltd. has agreed to plead guilty and pay a $232.7 million penalty for conspiracy to violate trade sanctions with Iran and Sudan.… Continue Reading
Graphic reprinted with permission of Miller & Chevalier CharteredFCPA declinations — decisions not to prosecute a company after an investigation — are hard to track.
Generally the DOJ and SEC don’t reveal anything about declinations.… Continue Reading
Houston-based Schlumberger Limited still faces a DOJ investigation for bribes paid to customs officials by global logistics firm Panalpina.
In 2010, Panalpina and six of its customers made FCPA history when they simultaneously settled with the DOJ and SEC.… Continue Reading
By Thomas Fox
Last week I picked my favorite FCPA enforcement actions for 2010. Here are my choices for the top ten investigations disclosed or making news this year:
1.… Continue Reading
The Wall Street Journal is reporting that Swiss logistics giant Panalpina and its customer Shell are close to settlement of FCPA charges with the DOJ and SEC. The paper said Panalpina may pay about $85 million in penalties and Shell about $30 million.… Continue Reading
Schlumberger, the Wall Street Journal reported last week, hired Zonic Invest Ltd., a consulting firm run by the nephew of Yemeni President Ali Abdullah Salehto, and agreed to pay a $500,000 signing bonus, plus other compensation.… Continue Reading
The DOJ is investigating potential bribery in Yemen by oil field services giant Schlumberger Ltd., according to a report today by Dionne Searcey of the Wall Street Journal.
The investigation focuses on payments to a consulting firm with ties to Yemen’s government when Schlumberger needed approval to create an oil-exploration databank there.… Continue Reading
Swiss logistics giant Panalpina said yesterday it has reserved about $110 million for an expected FCPA settlement with the Justice Department and Securities and Exchange Commission and a seperate antitrust resolution.… Continue Reading
Aibel Group Ltd. of the United Kingdom pleaded guilty yesterday to violating the antibribery provisions of the Foreign Corrupt Practices Act and failing to comply with the terms of its prior deferred prosecution agreement.… Continue Reading
Compliance concerns have forced Swiss logistics giant Panalpina to withdraw completely from the Nigerian domestic market. It said in its 2008 half-yearly report (available here) that it will sell its local operations to a Nigerian group and retain no ownership or operating interest.… Continue Reading
In its Annual Report and Form 20-F for the year ended December 31, 2007, Royal Dutch Shell plc includes a Foreign Corrupt Practices Act disclosure. It relates to the Department of Justice’s ongoing investigation of Panalpina.… Continue Reading