Archive

Top-5 Foreign Corrupt Practices Act (FCPA) Settlements for 2016

By the C|C Whistleblower Lawyer Team Here is our look-back at the top-5 Foreign Corrupt Practices Act (FCPA) settlements for 2016. 5. Och-Ziff Capital Management Group LLC -- The New York-based alternative investment and hedge fund manager, and its wholly-owned subsidiary OZ Africa Management GP LLC, agreed to pay a criminal penalty of more than $213 million to settle charges of violating the Foreign Corrupt...

In Their Own Words -- Ceresney

--  “This has been a strong year for the Enforcement Division, with groundbreaking insider trading and FCPA [Foreign Corrupt Practices Act] cases and other important actions across the full spectrum of the securities laws.”

Andrew J. Ceresney, Director of the SEC’s Enforcement Division, commenting on the agency’s enforcement activities over the past year.

Calling All FCPA Whistleblowers—The SEC Wants You

By Sarah Poppy Alexander The SEC is signaling loud and clear that it is eager to receive whistleblower information about FCPA violations. The Foreign Corrupt Practices Act (FCPA) prohibits companies with ties to the U.S. from bribing foreign officials to gain business favor or advantage overseas.  Those caught doing so risk stiff civil and criminal penalties, often in the eight- and nine-figure range.  Because...

DOJ Catch of the Week -- Olympus Corp.

By the C|C Whistleblower Lawyer Team This week's Department of Justice "Catch of the Week" goes to Olympus Corp. of America, the country's largest distributor of endoscopes and related equipment.  On Tuesday, the company agreed to pay $623.2 million to resolve criminal charges and civil claims for the company's violations of the False Claims Act and Anti-Kickback Statute through a scheme to pay kickbacks to...

DOJ Catch Of The Week -- VimpelCom

By the C|C Whistleblower Lawyer Team This week's Department of Justice "Catch of the Week" goes to Amsterdam-based telecommunications company VimpelCom Limited.  Yesterday, the company and its wholly owned Uzbek subsidiary, Unitel LLC, agreed to pay roughly $795 million under settlements with the DOJ, U.S. Securities and Exchange Commission and the Public Prosecution Service of the Netherlands (Openbaar...

DOJ Scores Big With Record-Breaking Alstom FCPA Sentence -- Who's Next On The DOJ'S FCPA Hit List?

By Eric Havian and Gordon Schnell  (Published in Offshore Alert) Late Friday, French power and transportation company Alstom S.A. was sentenced to pay a $772 million fine for violating the Foreign Corrupt Practices Act (FCPA) through its payment of millions of dollars in secret bribes to government officials across the globe.  This follows the company's December 2014 guilty plea to the charges.  The 9-figure...

SEC Enforcement Spotlight – Bristol-Myers Squibb pays over $14 million to settle FCPA charges

New York-based pharmaceutical company Bristol-Myers Squibb (BMS) will pay more than $14 million to settle SEC findings that it violated the Foreign Corrupt Practices Act (FCPA).  According to the SEC’s order instituting settled administrative proceedings, between  2009 and 2014, sales representatives of BMS China sales sought to secure and increase business by providing health care providers in China with...

SEC Enforcement Spotlight – Mead Johnson Nutrition

Mead Johnson Nutrition Company agreed to pay $12 million to settle SEC findings that it violated the Foreign Corrupt Practice Act (“FCPA”).  An SEC investigation found that employees of Mead Johnson’s Chinese subsidiary made improper payments to healthcare professionals at government-owned hospitals to induce them to recommend Mead Johnson’s infant formula to new or expectant mothers.  See SEC Press...

In Their Own Words -- Tillipman

-- “Let’s be clear about one thing: Chuck Blazer is not a whistleblower. And more importantly, the media’s haphazard use of this term to describe Blazer is a disservice to the brave individuals that may legitimately be deemed ‘whistleblowers.’"

-- Jessica Tillipman, Senior Editor of the FCPA Blog and Assistant Dean at The George Washington University Law School.  Click here for more.  

SEC Enforcement Spotlight -- FLIR Systems

By the C|C Whistleblower Lawyer Team Oregon-based defense contractor FLIR Systems Inc. agreed to pay more than $9.5 million to settle charges by the Securities and Exchange Commission (SEC) that the company violated the Foreign Corrupt Practices Act (FCPA) by financing a “world tour” of personal travel and gifts for Middle East government officials.  FLIR, which develops infrared technology for use in...