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FCPA Blog Daily News

Entries in Restitution (25)

Monday
Jun242013

Wal-Mart’s Victims, Part XVII: Using Civil Society  

I’ve previously argued -- following the DOJ’s lead -- that the governments in developing countries are usually better understood as the co-conspirators in a bribery scheme than as the victims. So if we want to remedy the harms that resulted from particular bribes, we can’t go through them.

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Thursday
Jun202013

Wal-Mart’s Victims, Part XVI: Compensating Victims through the STP

The proceeds of FCPA enforcement actions currently go directly into the U.S. Treasury. But that need not be so. My proposed Supplemental Transparency Project would use a portion of the settlement proceeds to directly fund programs in the countries where the bribery occurred.

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Wednesday
Jun192013

Wal-Mart’s Victims, Part XV: Proposing the Supplemental Transparency Project 

We’ve talked in this series about how FCPA enforcement could do more to help the overseas victims of bribery. And after a fourteen-post build-up, we’re finally at our destination.

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Wednesday
Jun122013

Wal-Mart’s Victims, Part XV: This is What I’m Talking About

The announcement could not be more timely. Yesterday, we learned that the government of Scotland has reached an agreement with the Aberdeen-based Abbot Group, setting aside £2 million of a £5.6 million bribery settlement to build rugby and soccer fields in impoverished communities.

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Thursday
Jun062013

Wal-Mart’s Victims, Part XIII: Learning from Environmental Law

We saw in the last post that neither restitution nor disgorgement will work very well in compensating the victims of overseas corporate bribery.

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Wednesday
Jun052013

Wal-Mart’s Victims, Part XII: The Problem with Disgorgement

In the last post I suggested that disgorgement, though a seemingly promising way to compensate victims, may not work. Here’s why.

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Thursday
May162013

Wal-Mart’s Victims Part VIII: So What Should We Do?

I’ve argued in this series that we should think of corruption generally, and bribery specifically, as violating human rights -- specifically the rights of the citizens of the countries in which bribery occurs. (And make no mistake, this includes  the U.S.).

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Monday
Jul232012

Peterson Has 'Limited Assets,' Morgan Stanley Waives Restitution

Garth Peterson's limited assets and potential obligations to Morgan Stanley might have prevented his global settlement with the DOJ and SEC.

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Thursday
Mar222012

Stanley Sends Big Check To KBR

Jack Stanley paid his former employer Kellogg, Brown & Root LLC $9.25 million last week as partial restitution for kickbacks he took when he ran the company.

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Thursday
Jun022011

Breaking News: ICE Loses 'Victim' Bid

At a hearing in federal court in Miami yesterday, Judge Marcia G. Cooke made a finding that Costa Rica's Instituto Costarricense de Electricidad S.A. (ICE) was not a victim of Alcatel-Lucent's bribery, and not entitled to restitution.

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Wednesday
May252011

Feds Fire Back At ICE

The DOJ and Alcatel-Lucent this week responded to the petition filed by Costa Rica's Instituto Costarricense de Electricidad, S.A. (ICE) for victim's status and restitution.

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Wednesday
May252011

Under The FCPA, Where Are Victim’s Rights?

As readers of the FCPA Blog know, the past few years have seen a dramatic rise in FCPA prosecutions. In 2010 alone, companies settling FCPA-related charges paid $1.8 billion in monetary penalties, nearly tripling the $641 million paid in 2009.

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