An appeals court sided with the Chinese-owned company and questioned the fairness of the national security-related foreign investment review process.
Although former South Korean President Chun Doo-hwan left office 25 years ago, the country is still battling to recover assets believed to have been pilfered during his tenure.
Zhenli Ye Gon was arrested in Maryland in 2007 and is suspected in a massive money laundering scheme through Las Vegas casinos.
GSK is under investigation by Chinese authorities for alleged corruption.
Attorneys for the plaintiff in Liu v. Siemens have argued that Congress intended the Dodd-Frank whistleblower provisions to apply extraterritorially, but the Siemens team maintains there simply is no link to the US in the case, according to an audio recording of the argument was recently obtained from the court by Just Anti-Corruption.
Zhenli Ye Gon is set to be extradited to Mexico after being arrested in 2007 and a drug conspiracy charge against him was dismissed with prejudice in 2009.
The sex tape adds an unusual twist to the investigations into GSK for corruption in China.
Lawrence Hoskins and William Pomponi were charged in the same superseding indictment in July 2013
Former Control Components Inc. employee Han Yong Kim, who lives in South Korea, is seeking to challenge the basis for his 2008 indictment without submitting himself to the jurisdiction of a U.S. court.
When doing business in China and the Far East, it can be challenging enough to get a handle on the individuals you employ. Add to that the responsibility of monitoring the myriad contractors, vendors, agents and intermediaries, and the challenge rises almost beyond control.
China has launched a wide crackdown on corruption, particularly in the pharmaceutical industry.
Three derivative shareholder cases have agreed to mediation in September over their foreign corruption related claims.
Unfortunately for companies seeking a way to avoid liability in countries known for corruption, not knowing what a third party is doing on the company’s behalf can be more dangerous than knowing. A company can protect itself against what it actually knows—the “known knowns.” But a company must also seek to anticipate and protect against what it doesn’t know—the “known unknowns” and the “unknown unknowns,” by assessing risks, conducting due diligence, and monitoring the third parties very carefully. However, what the company truly is going to get in trouble for is ignoring what it knows the third party is doing, i.e., pretending that the known is unknown.
Frederic Pierucci is a current executive at Alstom who pleaded guilty to foreign bribery charges in July.
Lawrence Hoskins is one of four ex-Alstom executives who have been charged with foreign bribery charges related to Indonesian power projects.