Global Investigations Review - The law and practice of international investigations

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Thursday, 11 July 2019

DOJ recommends up to four years in prison for former FBI agent

The US Department of Justice has recommended a sentence of 41 to 51 months’ imprisonment for former FBI agent Cynthia Holder, who was convicted of helping KPMG cheat inspections, in a sentencing memo filed at the US District Court for the Southern District of New York on 10 July. 

Holder pleaded guilty to charges of fraud on 16 October 2018 in connection to a scheme to share information with a former colleague and accountants at auditor KPMG so that KPMG could improve its performance in inspections by the Public Company Accounting Oversight Board (PCAOB).   

The PCAOB’s chairman said in January 2018 that sentencing in the case should send a clear signal that the misappropriation of confidential PCAOB information will not be tolerated.

Romanian president scolds parliament over lack of corruption reform

Romania’s President Klaus Iohannnis has said it is “extremely worrying” that the countrys government has not adopted anti-corruption recommendations, according to reports.

A report by the Council of Europes corruption-monitoring division said on July 9 that Romania had made very little progress to prevent corruption among judges, prosecutors and members of parliament. 

The ruling party rejected Iohanniss criticism, saying 14 other countries in Europe, including France and Germany, had yet to implement some of the recommendations made by the Group of States against Corruption (GRECO).

US aviation company discloses potential wrongdoing to US and UK authorities

AAR, an aviation company, said in a securities filing on 10 July that it has retained external counsel to investigate possible violations of the Foreign Corrupt Practices Act and other laws relating to the company’s activities in Nepal and South Africa.

The company said in its report that, based on the investigations, the company has self-reported the matters to the US Department of Justice and Securities and Exchange Commission and the UK Serious Fraud Office.

The company said it will fully cooperate with the agencies.

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