-  Investigations updates from around the world

Friday, 28 February 2014

Russian anti-corruption agents investigated for corruption

The deputy head of the corruption agency within Russia’s interior ministry has been arrested in connection with a bribery investigation, according to Russian news agency RIA Novosti. Boris Kolesnikov, who worked for the division in charge of fighting corruption and economic crimes, was detained for questioning after four of his colleagues were arrested last week, according to local news reports.

Thursday, 27 February 2014

Clients trying to block Credit Suisse from passing information to US authorities

Credit Suisse chief executive Brady Dougan said the bank is fighting clients’ lawsuits aimed at blocking potential evidence reaching US authorities. Credit Suisse has been accused of helping US citizens hide billions of dollars from tax authorities and is cooperating with related investigations.

Prosecutor Mythili Raman to leave DoJ

Mythili Raman, a lead prosecutor in the US Department of Justice’s criminal division, will leave the authority in March, it was announced yesterday. As acting assistant attorney general at the authority since last year, Raman presided over key Libor and FCPA cases.

Wednesday, 26 February 2014

GIR at the OECD's Global Forum on Competition

Global Investigations Review will be in Paris tomorrow, reporting from the OECD’s Global Forum on Competition. Delegates from governments and other organisations across the world will be discussing “fighting corruption and promoting competition”.

JPMorgan compliance chief leaves after one year

JPMorgan Chase’s chief compliance officer Cindy Armine has left the bank to join payment processing company First Data Corp. Armine spent one year at JPMorgan, during which time the bank paid over US$20 billion in fines, including a record US$13 billion settlement with US authorities for its role in the 2008 financial crisis.

Morgan Stanley faces US$275 million RMBS settlement

US bank Morgan Stanley has entered into a provisional agreement with the US Securities and Exchange Commission (SEC) which would resolve an investigation of residential mortgage-backed securities (RMBS) transactions that took place in 2007.

Norway starts foreign bribery investigation

Norway's National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) is investigating defence contractor Kongsberg, the company said yesterday. The investigation relates to contracts to deliver communications equipment to Romania between 1999 and 2008.

Manatt Phelps adds third white-collar partner this month

A former US Department of Justice (DoJ) prosecutor has joined Manatt Phelps & Phillips as a partner in its New York litigation practice, the firm has said. Arunabha Bhoumik was a prosecutor in the DoJ’s fraud section of the criminal division and worked on cases involving money laundering, fraud and false claims.

Alstom linked to Delhi metro case

French engineering company Alstom is in the news again after reports emerged that the company is involved in an alleged bribery case connected to the bidding procedure for Delhi metro contracts.

Tuesday, 25 February 2014

SNC Lavalin hires new compliance chief

Canadian engineering company SNC-Lavalin has hired David Wilkins as its new chief compliance officer amid a number of ongoing bribery investigations. Wilkins previously worked as the director of ethics and compliance at Dow Chemical.

Deutsche Bank settles Brazilian embezzlement charges

Deutsche Bank has paid US$20 million in Brazil to settle charges over its alleged role in embezzlement by public officials in the 1990s. Former São Paulo mayor Paulo Maluf is alleged to have been at the centre of the embezzlement scheme but has denied any wrongdoing.

Additional charge brought in FCPA obstruction case

The man accused of trying to bribe a witness in an FCPA investigation of a mining company has been hit with a further charge of conspiracy. According to court documents, Frederic Cilins, from France, has been accused of conspiring with an unnamed person to obstruct an investigation of an unnamed mining company, which has been accused of paying bribes to win contracts in Guinea.

Monday, 24 February 2014

Transparency International warns of Ukrainian money laundering

Anti-corruption organisation Transparency International has sent a letter to the UK chancellor George Osborne highlighting the risk of money being laundered from Ukraine into the UK. The non-government organisation warned Osborne that companies such as financial services providers and luxury estate agents should be prepared to carry out investigations of customers if necessary.

Separate bribery schemes linked to Alstom used same methods, claims Brazilian authority

The São Paulo Federal Prosecutor’s Office has revealed the connection between two separate corruption investigations related to French engineering company Alstom. Last week, criminal proceedings were opened against 11 individuals in connection with an alleged bribery scheme in the energy sector involving Alstom.

US closes Baxter FCPA investigation

The US Department of Justice and the US Securities & Exchange Commission have closed their FCPA investigations of pharmaceutical company Baxter International, according to the company’s latest quarterly SEC filing.

UBS to seek forex leniency

UBS is seeking leniency in the EU and US to limit potential fines for alleged foreign exchange benchmark manipulation, unnamed sources have told Bloomberg. This news comes just months after the bank avoided a €2.

Friday, 21 February 2014

Denso exec pleads guilty to obstruction charge

A former Denso Corp executive suspected of deleting emails and other electronic documents after learning of FBI raids on the company has agreed to plead guilty to obstructing justice and will spend a year in US prison.

SEC's Binger leaves NYC for Philly

The US Security and Exchange Commission (SEC) has appointed Sharon Binger, former lead investigator on the SEC’s investigation into FCPA violations at oil & gas company Total, to director at its regional office in Philadelphia, it announced on Thursday.

SEC fines Credit Suisse US$196 million

The US Securities and Exhange Commission has fined Credit Suisse for providing cross-border brokerage and investment advisory services to US clients, from at least 2002 until 2008, without having registered with the commission.

Norton Rose expands into Brazil

Hot on the heels of the launch of its global regulation and investigations practice, Norton Rose has taken the initiative to Brazil, opening its first foreign legal consultancy in Rio de Janeiro, where the firm will offer anti-corruption and bribery advice among its services.

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