Search

Editors

Richard L. Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Harry Cassin Managing Editor


Elizabeth K. Spahn Editor Emeritus

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


FCPA Blog Daily News

« Vera Cherepanova: Italy expands whistleblower protections to private sector | Main | David Green: UK DPAs aren't ‘cosy’ agreements »
Tuesday
Mar132018

Nuke transport company pays $2 million to settle FCPA offenses

A Maryland company that bribed a Russian official to award uranium transportation contracts agreed Tuesday to pay a $2 million criminal fine to resolve FCPA charges.

Transport Logistics International Inc. (TLI) was charged with conspiracy to violate the FCPA's anti-bribery provisions.

The company entered into a three-year deferred prosecution agreement (pdf) with the DOJ.

The DOJ said it set TLI's fine based in part on the company’s "financial inability to pay the penalty" that would be due under the U.S. Sentencing Guidelines.

TLI received "full credit for its substantial cooperation," including firing all employees engaged in the misconduct, the DOJ said.

Three individuals have been charged in the case.

The Russian official who took the bribes is serving a four-year prison sentence. Vadim Mikerin worked for JSC Techsnabexport (TENEX), a subsidiary of Russia’s State Atomic Energy Corporation.

TENEX is the sole supplier and exporter of Russian Federation uranium and uranium enrichment services to nuclear power companies worldwide.

Mikerin, 58, of Chevy Chase, Maryland, pleaded guilty in 2015 to a money laundering conspiracy. He was also ordered to forfeit $2.1 million.

Daren Condrey, 52, a co-president of TLI, pleaded guilty in 2015 to conspiracy to violate the FCPA and commit wire fraud. He's waiting to be sentenced.

Mark Lambert, 54, of Mount Airy, Maryland, was charged in January this year. He was the other co-president of TLI.

The DOJ charged Lambert in an 11-count indictment with one count of conspiracy to violate the Foreign Corrupt Practices Act and to commit wire fraud, seven counts of violating the FCPA, two counts of wire fraud, and one count of money laundering.

The DOJ said Condrey and Lambert allegedly paid Mikerin $2 million in bribes to award uranium transportation contracts to TPI.

Mikerin, Condrey, and others moved the bribe money from Maryland and other places in the United States to shell company bank accounts in Cyprus, Latvia, and Switzerland.

The DOJ filed a one-count criminal information (pdf) against TLI in federal court in Maryland.

The company wasn't required to appoint a monitor. But as part of Tuesday's settlement, it agreed to adopt a compliance program (pdf) and report (pdf) periodically to the DOJ.

____

Richard L. Cassin is the publisher and editor of the FCPA Blog.