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Money from Chinese investor was a “loan,” ex-Guinean minister told FBI

Money from Chinese investor was a “loan,” ex-Guinean minister told FBI

In an effort to clinch its case against Mahmoud Thiam, the US Department of Justice on 27 April played video excerpts from the former Guinean mining official’s post-arrest interview with two FBI special agents.

FCPA Docket: Cosan, Novartis and a UN bribery case update

FCPA Docket: Cosan, Novartis and a UN bribery case update

In today’s news round-up, a New York judge rejects Chinese businessman Ng Lap Seng’s request to throw out his bribery case, Brazilian food company Cosan probes potential improper payments connected to a recent acquisition, and South Korea fines Novartis for corruption.

Defence moves to distance ex-Guinean minister from suspect Chinese investment deal

Defence moves to distance ex-Guinean minister from suspect Chinese investment deal

Witness testimony in the trial of Mahmoud Thiam, a former Guinean mining official accused of laundering bribes, culminated on 26 April in diverging narratives of an allegedly corrupt deal struck by the West African country with Chinese investors.

Amnesty would end ‘continuing struggle’ over disclosure, ex-FCPA prosecutor says

Amnesty would end ‘continuing struggle’ over disclosure, ex-FCPA prosecutor says

King & Spalding partner Jason Jones is calling for an FCPA amnesty programme similar to the antitrust division’s leniency programme.

DOJ paints Guinean official’s deal with Chinese conglomerate as corrupt

The trial of Mahmoud Thiam, a former minister of mines who is accused of laundering bribes, trundled through its second day.

Telia negotiates down foreign bribery penalty

Swedish telecoms business Telia Company has said it now expects to pay US$1 billion as part of a proposed foreign bribery settlement with US and Dutch authorities, and is hoping to wrap the case up by the autumn.

After reporting $475 payment to US authorities, internal investigation spreads

The company that voluntarily disclosed to US authorities in late 2016 a suspect US$475 payment in Russia is now investigating its compliance with the FCPA in Ukraine and Poland.

Former Guinean mining official challenges DOJ to prove payments were bribes

The trial of Mahmoud Thiam kicked off on 24 April, with the US Department of Justice vowing to show that the dual US-Guinean citizen used his government position to pocket US$8.5 million in bribes.

FCPA-related personnel and policy changes

DOJ tries to dispel ‘myth’ that white-collar crime is no longer priority

At a conference dedicated to the Foreign Corrupt Practices Act packed with white-collar crime defence lawyers and in-house counsel, the top-ranking political appointee in the DOJ criminal division spent the first part of his keynote speech talking about violent crime.

Fraud section policy official tempers significance of compliance counsel

Pablo Quiñones, a policy official in the DOJ’s criminal division, has emphasised that the department’s prosecutors, not Hui Chen, ultimately decide how to evaluate compliance programmes when bringing an enforcement action.

Editor's picks

Supreme Court justices struggle with SEC’s use of disgorgement

Supreme Court justices struggle with SEC’s use of disgorgement

The SEC walked a tightrope trying to distinguish disgorgement from forfeiture and civil penalties before the US Supreme Court today, as justices grilled the regulator’s counsel on what set the enforcement tool apart.

DOJ picks Odebrecht and Embraer monitors

DOJ picks Odebrecht and Embraer monitors

The US Department of Justice has chosen two veterans of its criminal fraud section to serve as monitors to Odebrecht and Embraer, including a former chief of the section’s Foreign Corrupt Practices Act unit.

 

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