Paul Cosgrove, the former head of worldwide sales at California-based valve manufacturer Control Components Inc. (CCI) pleaded guilty yesterday to violating the Foreign Corrupt Practices Act (FCPA). Cosgrove is the fourth of six company executives to plead guilty to violating or conspiring to violate the FCPA. Cosgrove was previously scheduled to stand trial on June… Continue Reading
Monthly Archives: May 2012
Russian State-Owned Companies Face New Disclosure Requirements
Posted in RussiaRussian government has ordered state-owned companies to disclose information on beneficiaries of their counter-parties. In the end of the year 2011 Russian prime-minister demanded that the major Russian state-owned companies and companies majority-owned by Russian state, including RZD, Rosatom, Transneft, GAZPROM, Aeroflot, INTER RAO UES and others (a “State-owned company”), require their counter-parties under the… Continue Reading
New Director of SFO outlines approach for UK Bribery Act
Posted in UK Bribery ActDavid Green took charge as the new Director of the Serious Fraud Office (SFO) on 23 April 2012. Since taking the reins, Mr Green has confirmed that the SFO’s new powers to prosecute bribery offences would remain an important tool in actions overseas. He has however also confirmed that only the largest cases, that prevented… Continue Reading
Another Haitian Government Official Sentenced in Haiti Teleco Corruption Scheme
Posted in UncategorizedAs discussed in a previous blog post, the DOJ has been prosecuting multiple individuals in the Haiti Teleco corruption scheme. On May 21, 2012 Jean Rene Duperval was sentenced to nine years in prison for his role in the scheme to launder bribes paid to him by two Miami-based telecommunications companies. Duperval was also ordered… Continue Reading
Monthly China Anticorruption Update Report– April 2012
Posted in China, China enforcement actions, Compliance ProgramThe most recent FCPA and anticorruption enforcement developments involving the People’s Republic of China (PRC) are summarized below. Thanks as always to Squire Sanders Shanghai office for monitoring and reporting on these enforcement actions. China Enforcement Actions (1) On March 31, 2012, Li Ping, former Party chief of Futian District committee, was sentenced to six-and-a-half… Continue Reading