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Editors

Harry Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Richard L. Cassin Editor at Large

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

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Thursday
Aug152019

Avianca discloses new FCPA investigation

Colombia's national airline said in a U.S. securities filing Thursday that it is investigating possible violations of the Foreign Corrupt Practices Act and other anti-bribery laws because of free and discounted tickets and upgrades given to government officials in various countries.

Avianca Holdings S.A. said the tickets and upgrades were provided to officials by Avianca's "employees, which may include members of senior management, as well as certain members of the board of directors."

The company said it has retained outside counsel and a forensic investigative firm to conduct an internal investigation.

Avianca said in a Form 6-K filing first reported by FCPA Tracker that it made a voluntarily disclosure on August 13 to the DOJ and SEC, and to securities regulators in Colombia.

The airline didn't say what countries are involved in the internal investigation, how long the investigation might take, or the dollar value of the tickets and upgrades given to foreign officials.

Avianca said it has " implemented policies designed to prevent such practice from occurring in the future."

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Richard L. Cassin is editor at large of the FCPA Blog.