Tagged: DOJ FCPA

Corsa Coal Earns Declination and Agreed to Disgorge $1.2 Million

The Justice Department has been pushing its voluntary self-disclosure program and changes to its Corporate Enforcement Policy, in an attempt to increase FCPA enforcement cooperation.  The Golden Ring for every company facing this situation is a declination with disgorgement.  Only 17 companies have achieved that result. The latest beneficiary is Corsa Coal Corporation (“Corsa”), which cooperated with the Justice Department and resulted in the successful...

Episode 259 — Deep Dive into the Honeywell FCPA Case

Honeywell UOP (“Honeywell”) is a U.S.-based subsidiary of Honeywell International, Inc.  The settlement resolved bribery charges in the United States and Brazil stemming from bribes paid to high-ranking officials at Petrobras, Brazil’s state-owned oil company. Honeywell agreed to a three-year deferred purchase agreement (“DPA”), which was filed in the Southern District of Texas (Houston).  Honeywell agreed to pay approximately $79 million in exchange for the...

Glencore Pleads Guilty and Resolves Foreign Bribery and Market Manipulation Charges — Pays Over $1.1 Billion (Part I of V)

In a long-anticipated and major enforcement action, the Justice Department and the Commodities and Futures Trading Commission resolved a sprawling investigation with Glencore  International A.G. and Glencore Ltd, a Swiss-based commodity trading and mining company. Glencore entered guilty pleas for FCPA violations and a commodity price manipulation scheme.  Glencore paid over $1.1 billion to resolve these two major investigations. The resolution in the U.S. was...

FCPA Enforcement Actions: “O DOJ, SEC, Wherefore Art Thou, DOJ & SEC?”

FCPA practitioners, In-house counsel and compliance officers, and yes, even the FCPA Paparazzi, have been patient enough. As the saying goes, talk is cheap.  It is action that counts. We have written often enough about the coming storm – the Biden Administration’s long-anticipated ramp up of white collar enforcement, and FCPA actions in particular.  The groundwork was set – the National Security Memorandum raising the...

Vitol Pays $163.7 Million to Settle FCPA Case (Part I of III)

The Justice Department continues to produce FCPA resolutions in a record year for enforcement.  The latest, and perhaps the beginning of several end-of-year and end of the Trump Administration resolutions, is DOJ’s settlement with Vitol, Inc. (Vitol), an energy trading company.  DOJ agreed to a three-year deferred prosecution agreement (DPA) in exchange for a criminal penalty of $135 million.  One-third of the payment, or $45...

DOJ Hits Beam Suntory with FCPA Settlement for $19.5 Million (Part I of II)

Beam Suntory, a global producer and distributor of distilled beverages, settled its FCPA case with DOJ for $19.5 million for bribes paid in India.  The DOJ settlement follows an SEC FCPA settlement for $8 million announced on July 2, 2018.  The timing of the FCPA settlements is unusual and suggests that DOJ’s resolution involved unique issues relating to Beam Suntory’s cooperation.  The SEC resolution was...

DOJ FCPA Settlement: J&F Investimentos’ Bribery Schemes (Part II of V)

J&F’s Investimentos bribery scheme was pervasive and was coordinated with a senior Brazilian Finance minister and orchestrated through the use of United States banking.  The Brazilian official appears to be Guido Mantega, who went on to serve as Brazil’s finance minister. Given J&F’s large penalty in Brazil, DOJ’s resolution was reasonable in light of the consistent use of the US banking system to execute the...

J&F Investimentos Pleads Guilty to FCPA Bribery Conspiracy and Settles SEC Case for Total of $283 Million (Part I of V)

J&F Investmentos SA (“J&F), a Brazilian private investment company, plead guilty to FCPA bribery violations in federal court in Brooklyn, New York.  As part of the plea agreement, J&F agreed to pay a fine of $256 million and to cooperate with ongoing investigations of other companies and individuals involved in the bribery schemes. J& F owns numerous companies around the globe, including in the meat...

Webinar: 2020 FCPA Enforcement and Compliance Review

Webinar: 2020 FCPA Enforcement and Compliance Review October 13, 2020, 12 Noon EST Sign Up HERE Despite the pandemic and disruptions to the global economy, the Justice Department and the Securities and Exchange Commission have resumed their aggressive enforcement of the FCPA. DOJ has continued its pace of corporate prosecutions while continuing to increase individual criminal prosecutions. DOJ and the SEC also issued a revised...

Three Individuals Charged with Fraud and FCPA Violations in International Adoption Scheme

FCPA cases can arise in un usual situations.  DOJ has focused two separate prosecutions on bribery and fraud involving adoptions from Uganda and Poland.  At the heart, the defendants bribed Ugandan and Polish authorities to secure children who were not orphaned and deceived prospective parents as to the orphaned status of the children placed for adoption. In the end, innocent children were removed from their...