-  Investigations updates from around the world

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.

Austrian bank executives accused of paying bribes to Syrian officials

Prosecutors told an Austrian court that former employees at OeBS, a banknote printing company, paid bribes to officials at both Syrian and Azerbaijan banks in exchange for winning contracts to print money for them.

FC Barcelona charged with tax fraud

A Spanish court has charged football club Barcelona with committing tax fraud, according to Spanish reports. The allegation relates to the purchase of Brazilian footballer Neymar da Silva Santos Júnior – commonly known as Neymar – last summer.

Japanese employee facing bribery charges leaves Deutsche Bank

A Deutsche Bank employee charged with bribery offences by the Japanese police has now left the company. Shigeru Echigo, who worked in the bank’s pension fund sales department in Tokyo, is accused of entertaining a pension fund manager by paying for luxury meals and holidays.

SEC appoints trading and markets division director

WilmerHale partner Stephen Luparello will be the next director of the Securities and Exchange Commission's trading and markets division. He takes over from John Ramsay, who will step down next month.

Singapore anti-corruption official jailed

Edwin Yeo, the former assistant director of Singapore's Corrupt Practices Investigation Bureau was yesterday sentenced to 10 years for misappropriating over S$1.75 million (US$1.

Thursday, 20 February 2014

AT&T receives surveillance requests for 35,000 user accounts

US telecoms company AT&T says it received requests for information regarding more than 35,000 user accounts in the first six months of 2013. The requests were made under the US Foreign Intelligence Surveillance Act (FISA).

Ecclestone wins but payment was corrupt, says UK judge

A UK judge has said Formula One boss Bernie Ecclestone “made a corrupt agreement” when paying a Bayern LB banker US$44 million to facilitate a 2005 sale of F1 shares. But the judge rejected German media group Constantin Medien’s US$140 million claim that the payment was part of a deal that purposely undervalued the group’s stake at the time.

Wednesday, 19 February 2014

Latvia anti-corruption bureau requests prosecution of police investigators

Latvia’s Corruption Prevention and Combating Bureau (KNAB) has asked prosecutors to start criminal proceedings against unnamed investigators in the economic crimes department of Latvia's State Police Criminal Bureau for allegedly demanded bribes in return for favourable decisions.

Former Petrotiger chief pleads guilty to FCPA charges

Knut Hammarskjold, a former chief executive of oil and gas company Petrotiger, has pleaded guilty to violating the US Foreign Corrupt Practices Act (FCPA) and committing wire fraud. In a statement, the US Department of Justice said Hammarskjold was one of three defendants who has been accused of paying bribes to a Colombian official in exchange for helping secure an oil services contract worth US$39 million.

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