The absence of a specialist compliance counsel could leave prosecutors ill-equipped to evaluate the remediation efforts of companies ensnared in foreign bribery investigations, in-house lawyers say.
The principal deputy of the DOJ’s criminal division has said that the recent Petrobras settlement is a sign of the DOJ’s commitment to reducing “piling on” in a keynote speech in which he also highlighted the importance of transparency.
Ericsson, a Swedish telecoms company, has said it will probably have to pay a penalty to resolve a long-running Foreign Corrupt Practices Act probe.
German healthcare company Fresenius Medical Care has set aside a further $86 million for an upcoming foreign bribery settlement with US authorities.
The US Department of Justice’s prosecution of individuals accused of participating in a bribery scheme at Ecuador’s state-controlled oil company PetroEcuador is just a small part of a sprawling corruption scandal.
Ronald Tenpas, a former member of the Trump transition team for the DOJ who was once in the running to lead the criminal division, has joined Vinson & Elkins as a partner in Washington, DC.
A group of financial backers for Cobalt International Energy, including Goldman Sachs, have agreed to pay $147 million to settle several claims including an allegation that the oil company misled investors about the involvement of Angolan officials in an oil deal.
The Manhattan US attorney told defence lawyers last week that too often their bids for monitorships are below par.
The new head of the criminal division Brian Benczkowski has said the specialist compliance counsel position previously used by the fraud section was shortsighted.
The DOJ's criminal division has updated its policy on the imposition of corporate monitorships and the selection process.
The DOJ may have shied away from a more severe deal with Petrobras because of the Brazilian state-owned oil company’s assertion that it should be immune from prosecution, lawyers say.
Following a $280 million foreign bribery settlement with US authorities, the DOJ has chosen the compliance monitor for Panasonic Avionics.