The case continues litigation by foreign bribery defendants this year focusing on U.S. jurisdiction over foreign nationals and could help define the reach of the Foreign Corrupt Practices Act for conduct in companies operating almost entirely outside the United States.
A federal judge on Monday approved a $275,000 settlement between a former Siemens AG board member and the Securities and Exchange Commission, likely marking the close of the government’s civil pursuit of former Siemens employees for alleged bribery in Argentina.
The civil penalty may turn out to be the marquee achievement of the government’s pursuit of individuals in the Siemens case.
Former Manhattan U.S. Attorney Mary Jo White moves closer to chairing the Securities and Exchange Commission.
“At the SEC, there’s no institution too big to charge,” the former Manhattan U.S. Attorney told senators.
The overseas defendants have asked a judge to pause an SEC lawsuit, arguing their jurisdictional issues are so distinctive that they should not have to incur millions of dollars in discovery costs while the questions remain unsettled.
Defense attorneys for ex telecoms execs from Hungary strike out in their bid for the dismissal of the SEC’s foreign bribery complaint against them.
Former executives at Magyar Telekom plc and attorneys for the Securities and Exchange Commission presented widely different interpretations of the statute of limitations to a federal judge last week.
A pertinent filing which the SEC claims contained false statements under the FCPA was in fact withheld, lawyers for the defendants claim.
The Securities and Exchange Commission on Wednesday rejected defense efforts for the dismissal of a complaint alleging foreign bribery in Macedonia by executives at a Deutsche Telekom AG subsidiary, saying the alleged conduct had involved e-mail routed via the U.S. and also resulted in false securities filings.
Former executives at the Hungarian subsidiary of Deutsche Telekom AG argued Monday that a Securities and Exchange Commission lawsuit against them alleging foreign bribery should be thrown out.
Greece must speed up prosecutions and streamline foreign bribery laws, an OECD report says.
Apple, Macmillan and Penguin have brought on defense attorneys from O’Melveny & Myers, Sidley Austin and Akin Gump as litigation looms.
The German telecom giant and a Hungarian subsidiary agreed to pay more than $95 million in combined criminal and civil penalties to resolve foreign bribery violations in Macedonia and Montenegro.
The inquiry dates back to 2005, when the company’s auditors discovered suspect contracts that may violate the Foreign Corrupt Practices Act.
Attorney General Eric Holder told Sen. Herb Kohl (D-Wisc.) that the Justice Department is fully committed to attempting to stop the merger in court.
The Hungarian company is in talks with U.S. authorities to resolve a foreign bribery investigation.
The board at the Hungarian telecom firm approved an agreement in principle with the SEC. The company is still in talks with the DOJ.
House Republicans and Democrats raised concerns about how the proposed $39 billion merger between AT&T Inc. and T-Mobile USA may affect consumers and the companies’ employees.
The company said in a securities filing Thursday it is in talks with the DOJ and SEC to settle the case.
But German prosecutors said Wednesday they were just getting started.
Three years ago Hong “Rose” Carson was in a ladies’ room at the headquarters of her employer, Control Components Inc., in Orange County, Calif., where she allegedly flushed papers relevant to an investigation down a toilet. The case offers a reminder that, at least sometimes, company executives need to deal with their in-house lawyers as if they were federal officials.
German prosecutors searched the offices of the telecommunications company in response to a request from U.S. authorities.
ERNST & YOUNG LLP's BRIAN LOUGHMAN ON TRENDS IN GLOBAL FORENSIC ACCOUNTING: Loughman, the Americas leader of Fraud Investigation & Dispute Services, discusses how increased government enforcement, awareness of corruption risk and an emphasis on proactive compliance assessments by corporations is driving double-digit growth in the New York-based practice he leads.
"Former Congressman Renzi’s streak of criminal activity was a betrayal of the public trust and abuse of the political process.” -- Mythili Raman, acting Assistant Attorney General for the Criminal Division.
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