Even the mighty can fall – Apple agreed to pay OFAC $467k for violations of the Foreign Narcotics Kingpin Sanctions regulations. In 2008, Apple entered into an applications development agreement with SIS, a Slovenian company. SIS and its director and majority owner, Savo Stjepanovic, were designated under the Foreign Narcotics Kingpin Designation Act and added to the Specially Designated Nationals List (“SDN List”). Apple’s screening...
Thanksgiving is a moment to celebrate gratitude. For the Volkov Law Group, we are grateful for our clients, friends and colleagues. We want to say a big “thank you” to all of our clients for trusting us with your important legal matters; to all of our readers who help make our blog a success; and to all of our colleagues who refer clients, engage in webcasts and presentations with us, and generally...
The Volkov Law Group — Michael Volkov, Matt Stankiewicz, Jessica Sanderson and Stephen Cheng — was honored to represent Lt. Col. Alexander Vindman in the House Impeachment Inquiry. Lt. Col. Vindman testified before the House Intelligence Committee on Tuesday, November 19. A video of the testimony is available here. A video of highlights is here. Stephen Colbert’s review is here. A copy of Lt. Col....
The Justice Department won another FCPA trial. After a three-week trial, Mark Lambert of Mount Airy, Maryland, was found guilty of four counts of violating the FCPA, two counts of wire fraud and one count of conspiracy to violate the FCPA and wire fraud. Lambert is scheduled to be sentenced on March 9, 2020. In 2018, Transport Logistics International, a Maryland company, entered into a...
Bureau van Dijk, a Moodys Analytics Company, recently released a new white paper, What you need to know about sanctions compliance. You can download the white paper here. I was pleased to contribute to the white paper and hope you find it helpful.
Samsung’s recent FCPA settlement with the Justice Department capped yet another example of a company involved in bribing Petrobas in Brazil for valuable contracts. The scope of the bribery scheme was focused on a contingent deal involving Samsung’s desire to build a drillship for Chartering Company in Houston, Texas. Beginning in 2007 and continuing until 2013, Samsung conspired with others to violate the FCPA by...
Samsung Heavy Industries agreed with the Justice Department to pay $75 million to settle FCPA charges. Under a three-year deferred prosecution agreement (DPA), Samsung agreed to filing of a criminal information in the Eastern District of Virginia charging the company with FCPA conspiracy. DPA Copy Here. Over a six-year period, Samsung carried out a bribery scheme to pay millions of dollars to Petrobas in Brazil...
We all take notice when government employees from enforcement agencies engage in wrongdoing. It is important, however, for credibility that government agencies investigate themselves and prosecute employees for wrongdoing. Otherwise, a government agency can lose credibility as an honest broker. The Justice Department recently announced criminal charges against a former SEC examiner who allegedly engaged in wrongdoing when he left the SEC to work at...
Last week, DOJ announced the indictment of two former Herbalife executives in China for participating in a bribery scheme over a ten-year period. Herbalife, a multi-level marketing company, was not charged and its investigation is ongoing. The criminal; indictment, which was returned in the Southern Dustrict of New York, charges Yangling Li, aka Jerry Li, and Hongwei Yang, aka Mary Yang. Li was the former...
Lawrence Hoskins, a UK citizen and former Alstom executive, was convicted last Friday on 11 of 12 counts for his role in a bribery scheme involving Indonesian officials. Hoskins conviction took years to secure because of jurisdictional challenges and appeals. Hoskins was originally indicted in 2013. Alstom itself settled FCPA charges at the end of 2014 and agree to pay roughly $770 million. Three other...
