It is a somewhat common refrain that while corporate executives and companies pressured into paying bribes overseas face prosecution under the FCPA, the foreign officials who solicit, demand, and even extort the bribes go scot-free. As with many refrains, however, the reality is more complex.
Entries in Kleptocracy Asset Recovery Initiative (26)
The DOJ filed a civil forfeiture complaint Wednesday against assets allegedly bought with money looted from Malaysia's sovereign wealth fund, 1Malaysia Development Berhad.
The Obama Administration Thursday announced a series of actions to end the use of anonymous corporations in the United States and require disclosure of beneficial owners when foreigners deposit money or buy assets in this country.
The recent announcement that DOJ is taking applications for the newly vacated FCPA Chief position provides a timely opportunity to reflect on the history, growth and direction of the Unit as well as a chance to consider the unique game-changing possibilities that await an accomplished selectee.
It is repellent to read how a has been systematically plundered. For the culprit to be a member of the ruling family only adds weight to the wrong.
The Department of Justice returned $1.1 million in forfeited assets to the government of the Republic of Korea Monday.
The Department of Justice filed a civil forfeiture complaint Tuesday to recover $12.5 million in U.S. assets linked to a massive disaster relief fraud orchestrated by a prominent Philippines businesswoman who's now serving life in prison.
The DOJ filed a complaint Tuesday for the civil forfeiture of $34 million -- the value of shares in a Canadian energy company used to bribe Chad’s former ambassador to the United States and Canada to influence the award of oil development rights.
The Department of Justice said Wednesday it settled a civil forfeiture case against $1.1 million in assets traceable to bribes taken by Chun Doo Hwan, the former president of South Korea.
With most enforcement pressure bearing down on corporate supply side bribe payers, it is no surprise that the business community feels beleaguered. The fundamental unfairness is of course the impunity with which bribe takers operate, a frequent topic on the FCPA Blog.
At Duke's law school Thursday in Durham, North Carolina, Leslie Caldwell, the chief of the DOJ's criminal division, talked about international crime and enforcement. She covered the fight against cybercrime, kleptocrats and their assets, Libor rigging, sanctions offenses, human trafficking and child exploitation, and corruption.