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
Russell A. Stamets
Contributing Editor
Richard Bistrong
Contributing Editor
Eric Carlson
Contributing Editor
China’s state-run newspaper People’s Daily has accused multinational companies of avoiding taxes in China and urged authorities to take measures to combat tax evasion.
Foreign companies have been diverting their profits to overseas branches or their parent companies in order to avoid paying taxes in China, People’s Daily said.… Continue Reading
Corporate spending for entertainment in South Korea is in the news. Expenses for booze and apparently other nighttime activities are deductible, so the National Tax Service can track bar bills through tax returns.… Continue Reading
A unit of Archer Daniels Midland Company (ADM) pleaded guilty Friday to violating the FCPA by bribing Ukrainian government officials through vendors in exchange for value-added tax (VAT) refunds.
The Ukraine unit — called Alfred C.… Continue Reading
Park-Ohio Industries Inc. said on Thursday that a third-party payment on its behalf to tax authorities may have violated the Foreign Corrupt Practices Act.
The subsidiary of Park-Ohio Holdings Corp. said in its latest quarterly filing with the Securities and Exchange Commission that it received a subpoena from the SEC in August.… Continue Reading
U.S. Attorney Preet Bharara said Tuesday the United States has filed a civil forfeiture action against the assets of nine companies that own real estate in Manhattan. The complaint targets four luxury residential units and two high-end commercial spaces.… Continue Reading
Since discovering oil in 2009, Uganda has not pumped a single barrel and the resource remains unexploited. An historic opportunity has so far been stymied by bureaucracy, law suits, corruption, hostilities with neighbors taking on a military hue, as well as the lack of adequate infrastructure to move the oil to market.… Continue Reading
Allegations against Wal-Mart — Just when the debate about FCPA reform was heating up, the New York Times reported that Wal-Mart may have paid $24 million in bribes to Mexican officials to grow the business.… Continue Reading
The U.K. Serious Fraud Office said Monday that three men and a woman were charged in Westminster Magistrates’ Court with two counts of conspiracy to corrupt.
The charges followed a two-year investigation into allegations of corruption at Swift Technical Energy Solutions Ltd, a Nigerian subsidiary of the Swift Group of companies, the SFO said.… Continue Reading
The OECD Working Group on Bribery has published its latest assessment on France’s fight against overseas graft. The Phase 3 report on implementing the Anti-Bribery Convention lauds France for stepping up anti-corruption efforts but calls on Paris to tighten laws and boost fines.… Continue Reading
In editorials directly addressing Bureau of Internal Revenue Commissioner Kim Henares, two Philippines-based journalists urged the government to exercise “extreme caution” before entertaining a contract bid from Chinese laser technology company Huagong Tech Company Ltd.… Continue Reading
Three executives from oil services firm Noble Corporation were charged today by the Securities and Exchange Commission with bribing officials in Nigeria in exchange for illegal import permits for drilling rigs.… Continue Reading
London-based Diageo plc will pay the SEC more than $16 million to resolve FCPA offenses that stretched over six years and involved bribes to foreign officials in India, Thailand, and South Korea.… Continue Reading