With the last member of the infamous TSKJ joint-venture resolving FCPA charges this week, has the DOJ finally closed the door on its very lucrative Bonny Island investigation? JGC, a Japanese company headquartered in Yokohama, Japan, resolved an FCPA enforcement action brought by the DOJ concerning JGC’s participation in the Bonny Island, Nigeria, bribery scheme. … Continue Reading
Not too long ago I was clicking through the greatly improved DOJ FCPA webpage when I stumbled onto an enforcement action that had flown under the anticorruption/compliance blogosphere’s radar. Yes, Manuel Salvoch had escaped the dreaded DOJ press release, but not the Fraud Section’s posting of documents for the world to see. It was only … Continue Reading
On Friday, March 11, Jeffrey Tesler, who had challenged extradition from the UK to the US, relented in his fight and pleaded guilty to one count of conspiracy to violate the FCPA and one substantive violation of an FCPA antibribery provision. In 2009, the DOJ initially charged Tesler in an 11 count indictment consisting of … Continue Reading
Recently, we wrote about the 2010 enforcement environment. Today’s post looks forward to 2011 and some things to keep an eye out for in the coming year. Without further ado: Prosecutions of Individuals. In 2010 we saw a significant number of individuals prosecuted for FCPA and related violations. A number of defendants resolved their prosecutions … Continue Reading
We had a different post planned for today (one on trends to look for in 2011, which include international cooperation), but the ruling of London appeals court takes priority. According to Law360, a London appeals court decided Jeffrey Tesler, a UK lawyer charged by the DOJ with paying more than $132 million from a former … Continue Reading
U.S. Department of Justice (DOJ) Criminal Division Assistant Attorney General Lanny Breuer so stated at the American Conference Institute’s 24th National Conference on the Foreign Corrupt Practices Act (FCPA) late last year. The recent actions of the DOJ and Securities and Exchange Commission (SEC), the FCPA’s dual enforcers, backed up AAG Breuer’s words. The DOJ … Continue Reading
The Foreign Corrupt Practices Act (“FCPA”) has started garnering headlines around the world. It’s no wonder, considering the size of the fines and settlements extracted by the DOJ and SEC from non-U.S. companies in 2010 for violations of the FCPA. As of the date of this writing, eight of the top 10 largest settlements and … Continue Reading
The DOJ and SEC Close 2010 with an FCPA Bang! The Department of Justice (“DOJ”) and Securities and Exchange Commission (“SEC”) closed another Foreign Corrupt Practices Act record setting year — 75 FCPA enforcement actions resolved — with a bang. In late December, the U.S. enforcement agencies, Alcatel-Lucent S.A. and several of its subsidiaries resolved … Continue Reading
