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FCPA

This archive displays posts tagged as relevant to the Foreign Corrupt Practices Act or FCPA. You may also be interested in the following pages:

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July 30, 2019

A Micronesian government official has been sentenced to 1.5 years in a U.S. prison for participating in a scheme to launder bribes from the owner of a Hawaii-based engineering and consulting company.  In violation of the Foreign Corrupt Practices Act, Master Halbert had agreed to bribes in exchange for directing nearly $8 million in aviation contracts from Micronesia’s Department of Transportation, Communications and Infrastructure to co-defendant Frank Lyon.  DOJ

July 22, 2019

Microsoft’s Hungarian subsidiary, Microsoft Magyarország Számítástechnikai Szolgáltató és Kereskedelmi Kft., has agreed to pay a $8.7 million to the DOJ and $16.6 million to the SEC to settle allegations of violating the Foreign Corrupt Practices Act.  From 2013 to 2015, executives at Microsoft Hungary falsely represented to Microsoft that steep discounts were necessary for resellers of software licenses to the Hungarian government.  However, the resellers did not pass on the discounts to the Hungarian government, and used them for instead unspecified corrupt purposes.  DOJ; USAO SDNY; SEC

June 25, 2019

International gas and oil provider TechnipFMC plc (TFMC) and its U.S. subsidiary, Technip USA, Inc., have agreed to pay over $296 million to settle bribery charges by U.S. and Brazilian authorities.  TFMC had allegedly violated the Foreign Corrupt Practices Act from 2003 to 2013 by paying bribes to government officials in Brazil and Iraq in order to secure improper business advantages.  TFMC received a criminal fine reduction of 25% for cooperating fully and taking extensive remedial measures and a $214 million credit for penalties paid to the Brazilian government for overlapping conduct.  DOJ, USAO EDNY

June 20, 2019

To settle charges of violating the Foreign Corrupt Practices Act (FCPA), Walmart Inc. and its Brazilian subsidiary, WMT Brasilia S.a.r.l., have agreed to pay $138 million to the DOJ and $144 million to the SEC, for a combined penalty of $282 million.  According to the DOJ and SEC, Walmart’s alleged failure to implement and maintain adequate internal anti-corruption controls from 2000 to 2011 resulted in bribes to government officials in Brazil, China, India, and Mexico that allowed Walmart’s foreign subsidiaries to open more stores faster.  For cooperating with all investigations and self-disclosing some of the alleged misconduct, Walmart received a reduction of 20-25% off the amount originally owed to the DOJ.  In addition to the monetary penalty, Walmart has agreed to retain an outside compliance monitor for two years.  DOJ, SEC, USAO EDVA

Calling all FCPA Whistleblowers — The CFTC Wants You!

Posted  06/19/19
Businessmen Holding Foreign Currency in an Envelope
If you have information on Foreign Corrupt Practices Act (FCPA) violations in the commodities or derivatives markets, the Commodity Futures Trading Commission (CFTC) wants to hear from you. The agency made this clear in a recently-issued CFTC "Whistleblower Alert" calling on all FCPA whistleblowers to step forward and report what they know. The agency even dangled the potential for monetary rewards for those...

Catch of the Week — Fresenius Medical Care

Posted  04/5/19
Fresenius Medical Care Logo
German-based medical device production and services company Fresenius Medical Care AG & Co. KGaA (“FMC”), agreed on March 29th to a $231 million settlement with both DOJ and the SEC to resolve allegations it violated the Foreign Corrupt Practices Act by paying bribes between 2007 and 2016 to publicly employed health and/or government officials to obtain or maintain business in Angola and Saudi Arabia....

March 29, 2019

A German provider of dialysis products and services has agreed to pay a total of $231 million to the DOJ and SEC for violating the Foreign Corrupt Practices Act (FCPA). Fresenius Medical Care AG & Co. KGaA (FMC) admitted to paying $30 million in bribes to government officials throughout Africa, the Middle East, and other regions, in order to procure business that eventually earned it over $140 million in profits. Although it voluntarily self-disclosed the misconduct in 2012, the misconduct continued in certain countries until 2016. As part of the resolution, Fresenius has entered into a non-prosecution agreement with the DOJ and will pay $85 million in criminal penalties to the DOJ, as well as $147 million in disgorgement and interest to the SEC. DOJ; SEC; USAO MA

Catch of the Week — Mobile TeleSystems settles FCPA claims for $850M

Posted  03/7/19
Pile of coins with miniature flag of Uzbekistan
Russian telecom giant Mobile TeleSystems PJSC (MTS) agreed to pay approximately $850 million to settle allegations the company violated the Foreign Corrupt Practices Act (“FCPA”) by bribing an Uzbek official, a relative of Uzbekistan’s president at the time. $100M will be paid to the SEC to resolve the charges and will be credited against a criminal fine and forfeiture of $850M based on related criminal...

March 6, 2019

A Russian telecommunications provider agreed to pay $850 million to the U.S. resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) in seeking to win business in Uzbekistan. Over a period of eight years, Mobile TeleSystems PJSC (MTS) allegedly paid at least $120 million in bribes to an Uzbek official who held sway over the country's telecommunications regulatory authority, resulting in more than $2.4 billion in company revenues. MTS also agreed to a $100 million settlement with the SEC, included within the total $850 million settlement. DOJ; SEC; USAO SDNY

Catch of the Week — Cognizant Technology to Pay $25M to Settle Bribery Allegations While Top Execs Face Civil and Criminal Charges

Posted  02/22/19
Man in business suit signing on clipboard held by construction worker while surreptitiously exchanging cash
New-Jersey based tech company Cognizant Technology Solutions Corporation agreed to pay approximately $25 million-roughly $19 million in disgorgement and prejudgment interest and an additional $6 million in civil monetary penalties-to settle allegations the company violated the Foreign Corrupt Practices Act (“FCPA”) by bribing Indian officials. But the government’s enforcement doesn’t end there. Cognizant’s...
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