It’s a scenario that FCPA practitioners see all too regularly. A due diligence report regarding an intermediary reveals that it’s organized not in its home jurisdiction, but in Cyprus. Or Guernsey. Or Panama.
Entries in Alcatel (42)
As part of its $354 million settlement this week, Alcoa agreed to pay the third biggest disgorgement in FCPA history -- $161 million.
A U.S. federal judge Tuesday threw out a civil lawsuit filed Mexico's state-owned oil company Pemex against Siemens AG and a South Korea's SK Engineering that alleged bribes to Pemex officials.
As part of its $398 million settlement Wednesday, Total S.A. agreed with the SEC to disgorge $153 million of profit made from its bribery in Iran. That's the second biggest disgorgement in FCPA history.
I’ve argued in this series (see links to the prior posts below) and in this paper that FCPA enforcement should benefit the victims of bribery -- namely, the citizens of the countries in which the bribery occurs. Congress intended the statute to do this very thing, and it should do so now.
An account executive with Alcatel Malaysia was sentenced to two years in prison and fined about $40,000 last week after being convicted in a Kuala Lumpur court of bribing a procurement official at state-owned Telekom Malaysia Berhad.