Mexico’s state oil giant Petroleos Mexicanos (Pemex) filed a lawsuit in U.S. federal court last week against Siemens and South Korea’s SK Engineering & Construction Co. Ltd. to recover about $160 million in damages caused by their bribery.… Continue Reading
As part of its recent settlement with the SEC, Ralph Lauren Corporation agreed to disgorge $593,000 that was “obtained or retained as a result of the violations discovered during the investigation,” along with $141,846 in pre-judgment interest. … Continue Reading
In a terrific article for Canadian Business called ‘The crackdown,’ John Lorinc says that after decades of turning a blind eye, the Royal Canadian Mounted Police are going after companies that bribe foreigners.… Continue Reading
Did someone say FCPA enforcement had slowed down? Look again.
Already this month there have been settled enforcement actions involving Philips, Parker Drilling, and Ariel Sharef of Siemens, new charges unsealed against four former BizJet execs with two guilty pleas, and two Alstom execs with one guilty plea, and obstruction charges in a grand jury FCPA investigation.… Continue Reading
The Siemens enforcement action is a powerful example of what FCPA enforcement is today . . . and what it is not.
Siemens paid bribes in China, Russia, Venezuela, Mexico, Israel, Bangladesh, Nigeria, and Vietnam. … Continue Reading
It’s probably fair to say that the corporate poster child of FCPA enforcement, right now, is Siemens. But that’s about to change.
A couple years ago, if a law school professor had written up this fact pattern as a hypo on an exam, it would have been dismissed as unrealistic.… Continue Reading
Israel arrested a former judge and state electric company executive who allegedly took bribes from Siemens in exchange for huge contracts to supply gas turbines.… Continue Reading
A federal district court judge in New York City today threw out the SEC’s civil FCPA enforcement action against a former Siemens executive accused of helping pay $100 million in bribes to officials in Argentina.… Continue Reading
New scholarship from Elizabeth Spahn tackles the opportunities and risks behind the new trend of multi-national antibribery enforcement.
It’s a topic crucial to nations joining the war against graft. And it’s no less important to anyone facing the threat of enforcement by two or more countries.… Continue Reading