Tag Archives: foreign bribery

Petrochemical Manufacturer Braskem S.A. to Pay $957 Million to Settle FCPA Charges

Petrochemical Manufacturer Braskem S.A. to Pay $957 Million to Settle FCPA ChargesThe Securities and Exchange Commission today announced that a Brazilian-based petrochemical manufacturer whose stock trades in the U.S. markets has agreed to settle charges that it created false books and records to conceal millions of dollars in illicit bribes paid to Brazilian government officials to win or retain business.… Continue Reading

JPMorgan Chase Pays $264 Million in Sanctions for Bribing Foreign Government Officials

JPMorgan Chase Pays $264 Million in Sanctions for Bribing Foreign Government OfficialsFinancial services giant JPMorgan Chase & Co. has agreed to pay $264 million in sanctions resulting from the firm’s referral hiring practices in the Asia-Pacific region.  This agreement settles SEC charges that JPMorgan Chase won business from clients and corruptly influenced government officials by giving jobs and internships to their relatives and friends in violation … Continue Reading

Attorney General Lynch: U.S. Committed to Fighting International Fraud and Corruption

Attorney General Lynch: U.S. Committed to Fighting International Fraud and CorruptionCites FCPA & FCA as powerful detection and enforcement tools In remarks delivered to a group of Italian and American leaders and law enforcement officials on Thursday in Rome, U.S. Attorney General Loretta E. Lynch highlighted the powerful tools the United States is using to fight international fraud and corruption. Lynch also gave assurances to … Continue Reading

Och-Ziff Hedge Fund Pays Over $400 Million to Settle Foreign Bribery Charges

Foreign Corrupt PracticesWashington D.C. Sept. 30, 2016.  Och-Ziff Capital Management Group (Och-Ziff), A New York-based alternative investment and hedge fund manager, agreed to pay a combined total amount of U.S. criminal and regulatory penalties of approximately $412 million to settle charges it violated the Foreign Corrupt Practices Act.  In separate announcements yesterday the Securities and Exchange Commission … Continue Reading

SEC Adopts Rules for Resource Extraction Issuers Under Dodd-Frank Act

oil-extractionJune 27, 2016. The Securities and Exchange Commission adopted rules to require resource extraction issuers to disclose payments made to governments for the commercial development of oil, natural gas or minerals.  The rules, mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, are intended to further the statutory objective to advance U.S. foreign … Continue Reading

Former Chief Financial Officer of Siemens Argentina Pleads Guilty to Role in Multimillion Dollar Foreign Bribery Scheme

Former Chief Financial Officer of Siemens Argentina Pleads Guilty to Role in Multimillion Dollar Foreign Bribery SchemeThe former chief financial officer (CFO) of Siemens S.A. – Argentina (Siemens Argentina) pleaded guilty September 30, 2015 to conspiring to pay tens of millions of dollars in bribes to Argentine government officials to secure, implement and enforce a $1 billion contract to create national identity cards.… Continue Reading

Russian Nuclear Energy Official Pleads Guilty to Money Laundering Conspiracy Involving Violations of the Foreign Corrupt Practices Act

Russian Nuclear Energy Official Pleads Guilty to Money Laundering Conspiracy Involving Violations of the Foreign Corrupt Practices ActA Russian official residing in Maryland pleaded guilty August 31, 2015 to conspiracy to commit money laundering in connection with his role in arranging over $2 million in corrupt payments to influence the awarding of contracts with the Russian state-owned nuclear energy corporation. Vadim Mikerin, 56, of Chevy Chase, Maryland, pleaded guilty before U.S. District Judge Theodore … Continue Reading

Louis Berger International Resolves Foreign Bribery Charges

Louis Berger International Resolves Foreign Bribery ChargesLouis Berger International Inc. (LBI), a New Jersey-based construction management company admitted to violations of the Foreign Corrupt Practices Act (FCPA) and agreed to pay a $17.1 million criminal penalty to resolve charges that it bribed foreign officials in India, Indonesia, Vietnam and Kuwait to secure government construction management contracts. Two of the company’s former … Continue Reading

IAP Worldwide Services Inc. Resolves Foreign Corrupt Practices Act Investigation

IAP Worldwide Services Inc. Resolves Foreign Corrupt Practices Act InvestigationA Florida defense and government contracting company, IAP Worldwide Services Inc. (IAP), entered into a non-prosecution agreement and agreed to pay a $7.1 million penalty to resolve the government’s investigation into whether the company  conspired to bribe Kuwaiti officials in order to secure a government contract.  A former vice president of IAP also pleaded guilty today … Continue Reading

Former Chief Executive Officer of PetroTiger Pleads Guilty to Foreign Bribery Charge

Former Chief Executive Officer of Oil Services Company Pleads Guilty to Foreign Bribery ChargeThe former co-chief executive officer (CEO) of PetroTiger Ltd. – a British Virgin Islands oil and gas company with operations in Colombia and formerly with an office in New Jersey – pleaded guilty on June 15, 2015 to conspiring to pay bribes to a foreign government official in violation of the Foreign Corrupt Practices Act (FCPA).… Continue Reading

CEO and Managing Director Of US Broker-Dealer Sentenced for International Bribery Scheme

CEO and Managing Director Of US Broker-Dealer Sentenced for International Bribery SchemeThe former chief executive officer and former managing director of a U.S. broker-dealer (the Broker-Dealer), were sentenced to prison on March 27, 2015 for their roles in a scheme to pay bribes to a senior official in Venezuela’s state economic development bank, Banco de Desarrollo Económico y Social de Venezuela (Bandes), in return for trading … Continue Reading

Former Bechtel Executive Sentenced to 42 Months in Prison and Ordered to Forfeit $5.2 Million in Connection with Kickback Scheme

Former Bechtel Executive Sentenced to 42 Months in Prison and Ordered to Forfeit $5.2 Million in Connection with Kickback SchemeThe former principal vice president of Bechtel Corporation and general manager of a joint venture operated by Bechtel and an Egyptian utility company was sentenced to 42 months in prison for accepting $5.2 million in kickbacks to manipulate the competitive bidding process for state-run power contracts in Egypt.… Continue Reading

FIFA Scandal: U.S. Laws Can Reward Non-U.S. Citizen Whistleblowers

FifabribesWashington, D.C. May 28, 2015. Stephen M. Kohn, partner at Kohn, Kohn & Colapinto, LLP and the Executive Director of the National Whistleblower Center, issued the following statement today regarding the role of whistleblowers in the FIFA bribery scandal: “Yesterday the world was shocked by well documented revelations of widespread corruption and bribery within FIFA, … Continue Reading

Breakthrough in Protecting International Whistleblowers who Report Bribery and Corruption

PUBLIC SERVICE ANNOUNCEMENT LIVE INTERNATIONAL WHISTLEBLOWER SEMINAR  26 MAY 2015 The Luna-Centre for Responsible Democracy is co-sponsoring an important international seminar on how whistleblowers from around the world can use U.S. laws to expose corruption. “Breakthrough in Protecting International Whistleblowers: Non-United States Citizens Now Entitled to Whistleblower Protections and Rewards” will take place at the … Continue Reading

Kohn Takes Part In International Roundtable on Transparency

kohnWLPOn March 20, 2015, KKC partner Stephen M. Kohn participated in a Roundtable of Transparency panel discussion presented as part of the U.S. State Department’s International Visitor Leadership Program. Each year this program brings about 4,500 visitors to the US from 140 countries to learn how to use advocacy as the process of building consensus on … Continue Reading
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