The Scottish Civil Recovery Unit is to recover £5.6 million under Proceeds of Crime legislation after a Scottish drilling company, Abbot Group Limited (“Abbot”), admitted it had benefited from corrupt payments made in connection with a contract entered into by one of its overseas subsidiaries and an overseas oil and gas company. The contract was… Continue Reading
Category Archives: Uncategorized
Subscribe to Uncategorized RSS FeedM&S strengthens its anti-bribery controls in India
Posted in UncategorizedBritish retail giant Marks & Spencer (M&S) is attaching strict anti-bribery clauses to agreements in India as the company moves ahead with its expansion plans in the country. M&S currently operates 25 stores in India through a 51:49 joint venture agreement with Reliance Retail Limited, a subsidiary of Reliance Industries. The retail giant is also… Continue Reading
Bribery Act Investigations at Rolls Royce
Posted in UncategorizedRolls-Royce, the world’s second largest aircraft engine maker, made a public announcement on the 6 December 2012 that it has provided information to the Serious Fraud Office (SFO) in relation to bribery and corruption activities that have taken place in Indonesia, China and other undisclosed overseas markets involving its intermediaries. In a statement released through… Continue Reading
Report shows that compliance with OECD Anti-Bribery Convention remains inadequate
Posted in UncategorizedTransparency International has recently published its 8th annual progress report on compliance with the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, adopted in 1997, which requires each signatory country to make foreign bribery a crime. In relation to enforcement, of the 37 signatory countries included in the report, (which… Continue Reading
Judge Hands Down Sentences on Former CCI CEO, Sales Director
Posted in China, Foreign Corrupt Practices Act, UncategorizedOn November 8, 2012, Judge James Selna (C.D. Cal.) sentenced Stuart Carson, former CEO of Control Components Inc. (“CCI”), and his wife, Hong Rose Carson, the company’s former sales director, for their roles in the company’s violation of the FCPA and Travel Act. In 2009, CCI pleaded guilty to a three-count criminal information that charged… Continue Reading
Bribery fears increase as UK businesses encouraged to boost export performance
Posted in UncategorizedAs part of the UK government’s remodelling of the British economy, UK businesses are being encouraged to widen their export base. Given the intransigent economic problems in the Eurozone, traditionally the UK’s biggest export market, there are sound economic reasons for doing so. George Osborne, the Chancellor of the Exchequer, has championed the role of… Continue Reading
Monthly China Anticorruption Update Report-September 2012
Posted in UncategorizedThe 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. Change of Legal Environment 1. Areas: New law or regulation Update: State level: No developments Local level (Beijing & Shanghai): No developments Communist Party Rules:… Continue Reading
Monthly China Anticorruption Update Report-August 2012
Posted in UncategorizedThe 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. Change of Legal Environment 1. Areas: New law or regulation Update: State level: No developments Local level (Beijing &… Continue Reading
The Importance of Bribery and Corruption Due Diligence in Corporate Transactions
Posted in UncategorizedTo 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
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
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
German Prosecutors investigate accusations against German energy giant EnBW
Posted in UncategorizedMannheim Public Prosecutor’s office announced they are currently reviewing whether official preliminary proceedings against Germany based company Energie Baden-Wuerttemberg (EnBW) will be initiated. Possible charges comprise embezzlement, tax evasion and bribery. Mannheim prosecutors, specialized in white-collar crime, took over the case from Karlsruhe Public Prosecutor’s office where the proceedings were investigated since September 2011. EnBW,… Continue Reading
U.S. Chamber of Commerce Seeks Guidance Concerning the FCPA
Posted in UncategorizedOn February 21, 2012 The U.S. Chamber of Commerce Institute for Legal Reform (ILR) sent a letter to the DOJ requesting guidance on “several issues and questions of significant concern to businesses seeking in good faith to comply with the FCPA.” The ILR raised the following issues: “Instrumentalities”: The ILR sought clarification on what types… Continue Reading
John Joseph O’Shea Acquitted of All Substantive FCPA Counts
Posted in UncategorizedConduct Following the close of the prosecution’s case on a trial for charges arising under the Foreign Corrupt Practices Act (“FCPA”), John Joseph O’Shea (“O’Shea”) was acquitted of all substantive FCPA counts, with the court (Southern District of Texas) finding that O’Shea’s conduct could be reasonably explained by lawful motives. O’Shea, a former general manager… Continue Reading
Corporate hospitality – what does the Bribery Act allow?
Posted in UncategorizedThe Bribery Act 2010 came into force on 1 July 2011 and prohibits both private commercial bribery and bribery of foreign public officials. It also introduces a corporate offence of failing to prevent bribery. The Act raises many questions, one of which being: are gifts and corporate hospitality bribes? The Guidance published by the Ministry… Continue Reading
Allianz SE to settle SEC charges linked to bribes in Indonesia
Posted in UncategorizedEurope’s largest insurance company, Germany-based Allianz SE, apparently is about to limit damages sustained by United States Securities and Exchange Commission (SEC) investigations. The insurer had been under US investigation for its possible involvement in two major bribe cases. The first case began after allegations gave rise to suspicion that Allianz employees were involved in… Continue Reading
First proceedings under UK Bribery Act 2010 commenced
Posted in UncategorizedA Court clerk will appear at Southwark Crown Court on 14 October 2011 to face allegations that he accepted a bribe to influence criminal proceedings. This will be the first case brought under the UK Bribery Act 2010, which came into force on 1 July 2011. Munir Yakub Patel, a Court clerk at Redbridge Magistrates’… Continue Reading
German Banker charged with receipt of bribe payments after sale of Formula One – Bernie Ecclestone’s involvement investigated
Posted in UncategorizedOn Monday, July 18th, Munich prosecutors indicted Gerhard Gribkowsky, former board member of the Bavarian Regional Bank (Bayerische Landesbank, also known as BayernLB), for tax evasion, breach of trust and receipt of corrupt payments. The accusations include failing to pay taxes in Germany trying to conceal payments of bribery money. The defendant has been in… Continue Reading
FCPA-Inspired UK Bribery Act Projected to Hit the Oil and Gas Industry Hardest
Posted in UncategorizedWith the UK Bribery Act 2010 taking effect last Friday, we here at the Anticorruption Blog have decided to share a guest post we did for Forbes on the subject back in May of this year. The link to the article is here. Now that the UK Bribery Act has arrived, companies doing business in… Continue Reading
ANTI-BRIBERY AND CORRUPTION: A SPECIAL REPORT
Posted in UncategorizedThomson Reuters Accelus has recently published a special report (PDF/1.43MB/28 pages) on anti-bribery and corruption and the increased burden on senior management. It is particularly pertinent in light of the Bribery Act 2010 (“Act”) coming into force tomorrow. Among other things, it contains some useful discussion on: sector specific issues and guidance; whether foreign issuers with a London… Continue Reading
SEC Adopts Final Rules Providing for Cash Award Payments to Whistleblowers
Posted in UncategorizedOn May 25, 2011, the Securities and Exchange Commission (SEC) adopted final rules implementing the controversial “whistleblower” provisions of the Dodd-Frank Act, which provide for the payment of monetary awards to individuals who report possible violations of the federal securities laws to the SEC. Under Section 922 of the Dodd-Frank Act, if a whistleblower provides… Continue Reading