There have been a dozen corporate FCPA enforcement actions this year, including two of the biggest resolutions ever.… Continue Reading
Vitol Inc., the U.S. affiliate of Geneva-based Vitol group, entered into a deferred prosecution agreement with the Department of Justice Thursday to settle two charges that it conspired to violate the anti-bribery provisions of the FCPA by bribing officials in Brazil, Ecuador, and Mexico.… Continue Reading
A federal grand jury in Brooklyn indicted an oil trader Tuesday for bribing officials in Ecuador.… Continue Reading
In a case surprisingly ignored by the mainstream media, considering the matter and the parties at stake, France’s Supreme Court recently determined that double jeopardy isn’t a viable defense to prevent the prosecution of a company that had entered into a plea agreement for charges tried in another country.… Continue Reading
The oil sector is well known for its corruption risks, but one corner of the industry has received less attention than it deserves: commodity trading.
Companies that engage in physical commodity trading, including such giants as Glencore, Trafigura, Gunvor and Vitol, often compete for high-value deals buying and selling oil and other commodities from governments, including those in countries where corruption is widespread.… Continue Reading