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Join the Securities Litigation and Enforcement Group on LinkedInSBF Bribery Charge Has Me Shaking My Head – Bloomberg
According to the indictment, the accounts in question were unfrozen in November 2021. As it happens, in September of that year, FTT hit its highest value ever, at $85. As of this writing, the token trades at about $1.35. That means that $40 million in cryptocurrency in the fall of 2021 is worth about $636,000 today. […]
SEC Charges Honeywell with Bribery Schemes in Algeria and Brazil
The Securities and Exchange Commission today announced charges against Honeywell International Inc. for violations of the Foreign Corrupt Practices Act (FCPA) arising out of bribery schemes that took place in Brazil and Algeria. The company has agreed to pay more than $81 million to settle the SEC’s charges. The SEC’s order finds that Honeywell, a […]
Two Chinese Intelligence Officers Charged with Obstruction of Justice in Scheme to Bribe U.S. Government Employee and Steal Documents Related to the Federal Prosecution of a PRC-Based Company | USAO-EDNY
According to court documents, Guochun He, also known as “Dong He” and “Jacky He,” and Zheng Wang, also known as “Zen Wang,” allegedly orchestrated a scheme to steal files and other information from the U.S. Attorney’s Office for the Eastern District of New York related to the ongoing federal criminal investigation and prosecution of a […]
Glencore Subsidiary Pleads Guilty to Bribery Charges in U.K. – WSJ
The subsidiary, Glencore Energy (UK) Ltd., admitted to paying more than $28 million in bribes to secure access to oil across its operations in five African countries—Nigeria, Cameroon, Ivory Coast, Equatorial Guinea and South Sudan—according to an indictment filed in London’s Southwark Crown Court. The financial penalty the company will pay in the U.K. will […]
2016 A Record Year for Bribery Cases Against Companies — But Not Individuals – Law Blog – WSJ
The Justice Department instructed its prosecutors in 2015 to focus more on charging individuals in corporate criminal investigations, but only charged one person in connection with 11 corporate foreign bribery cases brought in 2016, a new report from the law firm Jones Day points out. via 2016 A Record Year for Bribery Cases Against Companies […]
SFO charges logistics firm and seven individuals with Angola bribery – The FCPA Blog
The UK Serious Fraud Office Wednesday charged logistics and freight operations company F.H. Bertling Ltd and seven individuals with bribing an agent of the Angolan state oil company, Sonangol. The defendants face one count of making corrupt payments contrary to Section 1 of the Prevention of Corruption Act 1906. via SFO charges logistics firm and […]
How Alstom Executives Made Bribery Their Business for Over a Decade – Bloomberg
Alstom SA executives won several billions of dollars worth of business in Saudi Arabia a decade ago by making at least $49 million in illegal payments in part through middlemen the company called “Mr. Paris” and “Quiet Man.” The bribes were among those the French power company made in five countries over more than 10 […]
Corruption Allegations Lead to Securities Lawsuits | The D&O Diary
I was on a panel at a law firm event last week during which I was asked to make some predictions for 2015. Among other things, I said that I thought we would see an increase of securities class action lawsuit filings following in the wake of regulatory investigations, especially bribery investigations. I also said […]
Hiring the Well-Connected Isn’t Always a Scandal – DealBook
When is a new hire on Wall Street scrutinized over possible bribery? Over the weekend, The New York Times reported that the Securities and Exchange Commission had opened an investigation into whether JPMorgan Chase had hired the children of powerful Chinese officials to help the bank win business. The investigation is sending shudders through Wall […]
Rolls-Royce in bribery talks with Serious Fraud Office
Rolls-Royce in talks with the Serious Fraud Office that could involve “the prosecution of individuals and of the company,” the British firm said.