ANALYSIS: With FCPA cases coming out of their ears, the Fraud Section of the Justice Department’s Criminal Division is increasingly farming out work to U.S. Attorney’s offices, which aren’t as tightly controlled as Main Justice.
The role of Akin, Gump, Strauss, Hauer & Feld LLP in the investigation, and the refusal of the lead lawyer on the case, Mark MacDougall, to testify, were central to the collapse of the trial.
The resolution includes a three-year deferred prosecution agreement and an independent compliance monitor.
Relations between Israel’s wealthiest person Beny Steinmetz and the mineral-rich African nation of Guinea have deteriorated to such an extent that neither the billionaire nor any of his representatives plan to attend a final hearing into the ownership of a prized iron-ore asset.
After the Justice Department denied a FOIA request, researchers from the University of Virginia School of Law have filed a lawsuit seeking the release of a corporate NPA.
The company has now spent about $381 million on FCPA related costs over two years.
UPDATED: Monday, Dec. 10
The French citizen allegedly tried to conceal bribes linked to BSG Resources in the Republic of Guinea.
Federal authorities have obtained confidential documents that shed new light on JPMorgan Chase’s decision to hire the children of China’s ruling elite.
As required, the monitor is a French national and will be assisted by counsel in the United States.
A conference, “The International Fight Against Corruption: Are the OECD and UN Conventions Achieving their Objectives?” was held Dec. 4 at The George Washington University Law School in Washington, D.C.
Counsel are using the OECD’s anti-bribery convention to buttress defense arguments in a manner not intended by the framers, Mark Pieth says.
Chinese authorities are investigating allegations that Chinese executives at GSK were involved in passing bribes to boost sales.
DOJ is investigating whether Wal-Mart paid bribes in Mexico to obtain permits to open new stores there, and whether executives covered up an internal inquiry into the payments.
Panelists including Joe Warin of Gibson, Dunn & Crutcher LLP said the SEC’s focus on whistleblowers is coming at the expense of helping companies comply with the law.
Syria dropped the farthest in the corruption rankings as the nation’s civil war continues.
The attorneys’ fees were reduced after a Special Master found some hours were improperly billed. The lawsuit alleged company leaders mishandled a foreign bribery matter, among other complaints.
A Jordanian distributer claims his company lost $40 million in business between 2003 and 2010 because Innospec paid bribes and rigged a field test against a safer unleaded fuel additive.
After years of negotiations, a government-wide sanctions and foreign bribery settlement has been announced. UPDATED with DPA and other documents attached.
Eurasian Natural Resources Corporation (ENRC) left the London Stock Exchange today. The mining company remains under investigation for corruption by the Serious Fraud Office.
The head of the Securities and Exchange Commission’s FCPA unit, appeared alongside her Justice Department counterpart Charles Duross on Nov. 19, 2013. She discussed administrative actions, charitable donations, commercial bribery, whistleblower complaints and other issues.
The head of the Justice Department’s FCPA unit spoke on Nov. 19 alongside his counterpart at the SEC, Kara Brockmeyer.
But the defense shot back that SFO witness Mahmood Al-Kooheji had been seen laughing and lunching with his Akin, Gump, Strauss, Hauer & Feld LLP lawyer, who is also a potential witness in the trial, prompting the judge to order no further contact.
“We expect FCPA violations to be an increasingly fertile ground for Dodd-Frank whistleblowing,” said Andrew Ceresney, co-director of the Enforcement Division at the Securities and Exchange Commission.
Deputy Attorney General James Cole spoke today at the 30th annual Conference on the Foreign Corrupt Practices Act outside Washington, D.C.
Bank official Maria De Los Angeles Gonzalez De Hernandez was arrested in May for her part in a bribery scheme involving Direct Access Partners.
The impetus: other countries are beginning to enforce anti-corruption laws, panelists from Gibson Dunn, Paul Weiss, Citigroup and Bank of America said at an ABA conference in Washington, D.C.
Tips alleging violations of the Foreign Corrupt Practices Act have seen the biggest percentage increase of any category, though in sheer numbers FCPA tips lag.
Banks and corporations looking for compliance credit from prosecutors must have robust programs, Deputy Attorney General James Cole said today.
Brazilian attorney Roberto di Cillo and Thaddeus Rogers McBride from Sheppard, Mullin, Richter & Hampton LLP in Washington, D.C., presented the webinar sponsored by the Practising Law Institute.
Park-Ohio Holdings Corp. also disclosed a business deal with a third party payment to a foreign tax official in 2007 that “implicates” potential wrongdoing.
Serious Fraud Office Director David Green granted a recent interview to Fraud Magazine in the United Kingdom and discussed his views on self-reporting of violations and U.K. deferred prosecution agreements.
In one of the first holdings on whether whistleblowers are entitled to a jury trial, U.S. District Judge J. Owen Forrester of the Northern District of Georgia wrote that Congress has not staked out a position on the subject.
“This was a coming of age, and a recognition that if you are really litigating a case in court, you need more than exhibits,” K&L Gates partner Steve Korotash said.