Thursday, May 28, 2020

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Eni Settles FCPA Case and SEC Files Case Against Ex-Goldman Sachs Executive

Despite the COVID-19 pandemic, the SEC entered into a settlement with Italian petro firm Eni for $24.5 million for FCPA violations. In another matter, the SEC filed an FCPA case against a former Goldman Sachs executive for bribery in connection with business on behalf of a client in Ghana. In this 20-minute episode of “Corruption, […]
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How Do You Calculate FCPA Settlement Amounts?

When calculating FCPA-related settlement amounts, the total is theoretically the sum of the DOJ and SEC orders. But as Harry Cassin explains, that isn’t the amount actually paid to the U.S. Treasury, which may be considerably smaller. Furthermore, there may be penalties paid to other agencies. Using as examples the recent international settlement with Airbus, […]
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Foreign Executive Found Guilty of FCPA Violations

In November, a jury sitting in the U.S. District Court for the District for Connecticut convicted Lawrence Hoskins, a former senior executive with the French power and transportation company Alstom S.A., on a number of Foreign Corrupt Practices Act charges. Even though the Second Circuit established some limits on the extraterritorial application of the FCPA, […]
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Defendants Cannot Show that CMS Guidance Allows for Reimbursement of Travel that Never Occurred;...

The Fifth Circuit denied the defendants’ appeal of a lower court’s decision granting the government’s motion for summary judgment in a Medicare fraud case,...

Court Reverses Foreign National’s FCPA Conviction, Setting a High Bar to Establish an Agency...

A ruling issued on Wednesday, February 26 by a Connecticut federal court details the type of control necessary to find that a foreign national acted as an agent of a U.S. domestic concern for purposes of falling within the coverage of the Foreign Corrupt Practices Act (FCPA).  The decision curtails the U.S. Department of Justice’s […]
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Pandemic May Not Boost FCPA Enforcement

Mike Koehler assesses the expectation that FCPA enforcement will increase post COVID-19, because a crisis presents business desperation and a greater willingness to secure business improperly. That narrative is based in part on the belief that FCPA enforcement increased circa 2010–2012 due to the preceding financial crisis, a connection he disputes. He contends that the […]
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NAVEX Global and Volkov Law Issue Vendor Risk Management Toolkit

NAVEX Global and the Volkov Law Group have issued a new Vendor Risk Management Toolkit: Best Practices for Vendor Risk Profiling. This three-part toolkit provides expert advice on profiling third party vendors using factors such as organizational size, global footprint, industry and much more. Learn from FCPA expert Michael Volkov how to take the right approach […]
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Florida Businessman Sentenced to 48 Months in Prison for Role in Venezuela Bribery Scheme

Juan José Hernández Comerma, a former general manager and partial owner of a Florida-based energy company, has been sentenced to 48 months in prison for his role in a scheme to corruptly secure contracts from Venezuelan state energy company Petroleos de Venezuela S.A. He must also pay a fine of $127,000 and forfeit $3 million. […]
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SEC Chair Clayton Says FCPA May Not be Working as Intended

Mike Koehler comments on recent remarks by SEC Chairman Jay Clayton that touch on his own recurring questions of whether the Foreign Corrupt Practices Act has been successful in achieving its objectives, and whether country exits in the aftermath of FCPA scrutiny or enforcement are a good thing or not. He says that Clayton “offered […]
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Ericsson’s Pervasive Bribery Conduct: The Toxic Mix of Senior Executive Involvement and Third Party...

Ericsson’s FCPA settlement is in the books (not the books and records). But it casts a significant shadow across the FCPA landscape. A pervasive and systemic culture of bribery is defined to reflect senior executive involvement, winning business at any cost and using bribery as an accepted business strategy. Ericsson’s bribery conduct appears to have […]
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