The Sweden-based telecommunications company, Ericsson, agreed to a pay a total of $1 billion (yes, billion with a “B”) for FCPA violations. Ericsson entered into settlement agreements with DOJ and the SEC. Ericsson agreed to pay a criminal penalty of over $520 million and approximately $540 million to the SEC. An Ericsson subsidiary in Egypt entered a guilty plea to an FCPA conspiracy to violate...
After years of investigation, disclosures, and press reports, the Embraer FCPA case finally came to a close. Hopefully, we will not see more of these long-term, seemingly endless investigations. The Justice Department and the SEC have publicly committed to moving FCPA investigations more expeditiously. In any event, Embraer settled its case for $205 million with the Justice Department and the SEC. The case itself has...
The Justice Department and the Securities Exchange Commission delivered a powerful FCPA enforcement message to private equity and hedge funds. Och-Ziff settled with the DOJ and SEC for total penalties of $412 million. The comprehensive enforcement action and settlement included: (1) a 3 year deferred prosecution agreement (“DPA”); (2) a criminal plea to four criminal counts, two FCPA conspiracy counts, and a books and records...
