To protect themselves from breaking the UK Bribery Act and Proceeds of Crime legislation, those involved with corporate transactions (including mergers, acquisitions or investments) need to ensure that transactions do not involve risks of bribery and corruption. The UK’s Serious Fraud Office (SFO), in January 2012, said: “Shareholders and investors in companies are obliged to… Continue Reading
Monthly Archives: July 2012
Russia’s Recent Initiatives To Increase Transparency Of State Officials
Posted in RussiaRussia is consistently developing anti-corruption legislation. Earlier this year Russian President approved National Anti-Corruption Plan for the years 2012 – 2013. As a step further Russia is planning to adopt laws aimed at increasing control over Russian state officials’ expenditures. In March 2012, the then-Russian president Dmitry Medvedev adopted National Anti-Corruption Plan for the years… Continue Reading
Oxford University’s publishing arm to pay nearly £1.9 million for corrupt East African operations
Posted in Africa, United KingdomDavid Green QC, the newly-installed director of the Serious Fraud Office (“SFO”), has taken action in the High Court against Oxford Publishing Limited (“OPL”), which ordered it to pay £1,895,435, in relation to the unlawful conduct of OPL’s subsidiaries in Tanzania and Kenya. OPL is owned by Oxford University Press (“OUP”), which is the publishing… Continue Reading
Nordam Group Settles China FCPA Violations
Posted in China, China enforcement actions, Foreign Corrupt Practices ActOn July 17, 2012, Nordam Group, Inc. (“Nordam”) an aircraft maintenance, repair and overhaul (“MRO”) service provider based in Tulsa, Oklahoma, entered into a three-year non-prosecution agreement (NPA) with the DOJ to resolve violations of the FCPA’s anti-bribery provisions. Conduct According to the NPA, from 1999 until 2008, Nordam, its subsidiaries and affiliates paid bribes… Continue Reading
Orthofix International Resolves FCPA Investigation
Posted in UncategorizedOrthofix International N.V. (“Orthofix”) entered into a consent to final judgment with the SEC and a deferred prosecution agreement with the DOJ to resolve FCPA violations by its Mexican subsidiary. Although the DOJ enforcement action involved a criminal information which remains sealed until a plea is entered in open court, the deferred prosecution agreement indicates… Continue Reading
Deferred prosecution agreements in the UK- Consultation now open
Posted in UncategorizedBack in May, we reported that the new Director of the SFO had offered support to the US-style deferred prosecution agreements (“DPAs”). DPAs aim to make out-of-court settlements easier by allowing defendant companies to avoid criminal prosecution instead agreeing a series of conditions. These conditions usually including paying a civil penalty, handing back the profits… Continue Reading
Patrick Joseph, Haiti Teleco Defendant, Sentenced to Prison
Posted in Foreign Corrupt Practices Act, Haiti, TelecommunicationsOn July 6, 2012, Patrick Joseph was sentenced to one year and one day in prison, and ordered to forfeit $955,596.69, for his role in the Haiti Teleco bribery scheme. Joseph, a former Director General for telecommunications at the Republic of Haiti’s state-owned national telecommunications company, Telecommunications D’Haiti (Haiti Teleco), had been charged with one… Continue Reading
Monthly China Anticorruption Update Report– June 2012
Posted in China, China enforcement actions, Communist PartyThe 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 these enforcement actions China Enforcement Actions (1) On June 5, Wu Xiaoli (“Wu”), former general manager of the Shanghai Gongxin Project Construction Supervision Center Ltd, a state-owned… Continue Reading