Three federal appeals judges in D.C. expressed doubt that a district court judge had acted outside his powers when he declined to approve a deferred prosecution agreement.
Some white-collar defense attorneys said the Securities and Exchange Commission was wrong to take action against the bank for giving internships to relatives of foreign officials.
Vale is attempting to fend off a civil racketeering suit launched by Rio Tinto in the Southern District of New York in which the Anglo-Australian mining firm claims that Vale benefitted from an alleged 2008 bribery scheme by Beny Steinmetz Group Resources Ltd. to obtain lucrative iron mining concessions in Guinea.
This enforcement action appears to be the first based entirely on a theory of improper hiring and internship practices, but it is unlikely to be the last.
In a conference call with journalists, SEC Enforcement Division Director Andrew Ceresney hailed the settlement as the first to conclude that internships can violate the Foreign Corrupt Practices Act if they are provided to win or retain business. UPDATED with statement from BNY Mellon.
The U.K. pharmaceuticals company is already investigating alleged bribery in Poland, the United Arab Emirates, Lebanon, Jordan, Syria and Iraq.
The Dutch aerospace services company said the case should be assigned to a different district court judge on remand.
The London-based construction company said in April that it had wrapped up an internal investigation into alleged bribery and had reported the results to the U.K. Serious Fraud Office.
The case in the Southern District of New York signifies the United States’s joining a telecom investigation by several European countries.
The World Bank report focused on the dealings of 206 companies between 2002 and 2009. In 2009 alone, the report says, “connected firms evaded approximately $217 million worth of taxes” more than ordinary private companies would have evaded in similar circumstances.
For U.S. government contractors, the opportunities to provide services and expertise to foreign governments are lucrative, but this enforcement action also highlights the risks associated with obtaining such contracts.
The company was accused of making facilitation payments, which are illegal under the U.K. Bribery Act.
A former vice president of the Florida-based defense company pleaded guilty to conspiracy to violate the Foreign Corrupt Practices Act for his involvement in the corruption scheme.
Lawyers for the Dutch aerospace services company and the United States filed separate opening briefs in the U.S. Court of Appeals for the District of Columbia Circuit, contending that federal Judge Richard J. Leon overstepped his authority when he refused to approve a deferred prosecution agreement between the parties.
The U.S. is now acknowledging that investigators are looking at the awarding of the 2018 World Cup to Russia and the 2022 World Cup to Qatar while Sepp Blatter, as he prepares to step down from leadership of FIFA,
President Barack Obama speaks at outgoing Attorney General Eric Holder's portrait unveiling ceremony.
Attorney General Eric Holder called for a lower bar to federal civil rights prosecutions in an exit interview with Politico's Mike Allen.