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FCPA Blog Daily News

Entries in Mexico (177)

Thursday
Sep112014

Feds seize $65 million, arrest 9 in LA fashion district takedown

Image released by the DOJ on September 10, 2014 A thousand federal agents launched raids across the Los Angeles fashion district Wednesday and seized an estimated $65 million in cash allegedly linked to a money laundering operation for Mexican drug cartels.

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Tuesday
Sep092014

Walmart's FCPA-related spend rate is falling fast

Walmart said in its latest SEC filing that FCPA and compliance-related costs for the first six months of its fiscal year (from February 1, 2014) fell to $96 million from $155 million a year ago.

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Friday
Aug082014

Mexico fights crime with . . . censorship

On Mexico’s central Pacific coast, in the state of Sinaloa, where drug lord Joaquin "El Chapo" Guzman's cartel has terrorized the local police and populace for decades, lawmakers have now limited what journalists can report about violent crime.

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Monday
Jul282014

Walmart's wall of silence comes tumbling down

The veil of secrecy that the "old" Walmart drew over bribery allegations in Mexico since 2005 is falling apart. One reason is because the "new" Walmart has taken robust compliance initiatives and is more transparent. Another reason is because the Delaware Supreme Court is forcing the world's biggest retailer to open up about the past.

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Friday
Jul252014

Bizjet's Kowalewski pleads guilty to FCPA conspiracy

The former chief executive of Lufthansa's BizJet subsidiary pleaded guilty Thursday to conspiracy to bribe government officials in Mexico and Panama.

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Thursday
Jul242014

Delaware supremes unanimously affirm Walmart discovery order

The Delaware Supreme Court Wednesday affirmed a lower court order for Walmart to turn over files and documents from an internal FCPA investigation to plaintiffs in a civil shareholder suit.

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Thursday
Jul172014

Pemex loses appeal in bribe suit against Siemens, SK Engineering

A federal appeals court Wednesday upheld the dismissal of a lawsuit by Mexico's state-owned oil company that accused Siemens and SK Engineering & Construction of bribing its officials to win refinery refurbishing work.

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Thursday
Jul172014

Walmart: After bribe probe, a new cast of characters

Walmart Chairman Rob WaltonWhatever the outcome of any eventual enforcement action against Walmart for alleged bribery in Mexico and maybe other countries, it's clear the world's biggest retailer is already a changed place.

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Friday
Jul112014

Showdown in Delaware: Walmart fights to keep its secrets

Walmart argued Thursday to the Delaware Supreme Court that shareholders aren't entitled to internal documents from an FCPA investigation that might show what executives and directors knew about alleged bribes paid to officials in Mexico.

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Monday
Jun302014

Walmart decision in Delaware could reset compliance roles 

The Delaware Supreme Court will hear oral arguments on July 10 for the Walmart case that I discussed in a recent post on the FCPA Blog. The issue is whether the Walmart board, or certain directors, knew about the alleged bribery and cover up from 2006 until 2012. The court will decide what files should be disclosed or if the case should be dismissed.  

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Wednesday
Jun112014

Key Energy bribe probe expands to Mexico

Key Energy Services Inc. said it is investigating allegation of possible bribery involving its Mexico operations.

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Tuesday
Jun102014

Walmart cuts quarterly FCPA-related spending by $20 million

Image courtesy of WalmartWalmart Stores Inc. said in its Form 10-Q filed with the SEC on June 6 that it cut FCPA investigations and compliance-related costs for the quarter ended April 30 by $20 million year-over-year.

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