The US Securities and Exchange Commission will renew its focus on bribery violations and accounting fraud, Stephanie Avakian, deputy director of enforcement, said while speaking at a Practicing Law Institute event in London on Tuesday.
The top deputy to Criminal Division chief Leslie Caldwell also mentioned Foreign Corrupt Practices Act prosecutions involving Alstom and former executives of PetroTiger Ltd.
In an order issued on Friday, Judge Richard Berman of the Southern District of New York admonished both parties to the case for the extensive delays, calling for the case to be streamlined.
Dmitrij Harder — a Russian national, naturalized German citizen and holder of a U.S. green card — was charged with conspiracy, money laundering, and violating the Foreign Corrupt Practices Act and the Travel Act.
The Federal Bureau of Investigation’s foreign corruption program will more than triple the number of agents focused on overseas bribery this year to more than 30 from around 10, according to bureau officials.
The Rhode Island-based manufacturer disclosed that it hired outside counsel to conduct an internal investigation into the potential violations in China.
Bank of New York Mellon’s recent disclosure shows that the SEC’s sovereign wealth fund sweep is still percolating; but experts say that the foreign funds aren’t the only source of risk for private equity and financial firms.
The amended complaint attempts to buttress the argument that Chanos acted with malice, and that the very context in which the banker spoke set up the conditions for slander.
The Frenchman served time rather than cooperate in the Justice Department’s investigation of alleged bribery in the Guinean mining sector. But he must remain in the Southern District of New York under supervised release.
Andrew Weissman worked with the U.S. Chamber of Commerce in 2010 on a campaign to encourage changes to the 1977 foreign anti-bribery law that critics argued would weaken it. Now, he will oversee FCPA enforcement.
FCPA attorneys Shawn Davisson and Sarah Lamoree, were named of counsel, the firm announced Jan. 5. Three attorneys became partners.
December has traditionally been a busy month for the DOJ and SEC as they attempt to wrap up FCPA cases. This year was no exception with multiple blockbuster corporate resolutions closing in on nearly $1 billion in penalties and disgorgement combined with a series of guilty pleas from former executives.
“Sigelman’s position as co-CEO of PetroTiger,” Judge Joseph Irenas concluded, “sufficiently establishes the fiduciary duty element of private-sector honest services fraud.”
A team of 25 lawyers starts putting together the Year-End compendium in October.
The foreign bribery investigation of Dmitrij Harder also led to an important Third Circuit appeals court ruling in November that strengthened the crime/fraud exception to attorney-client privilege.
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.