At the Volkov Law Group, we want to take a moment to express out gratitude for the service and sacrifice made by our military and their families. On this day of remembrance, it is important to reflect on the importance of military service by all of our service members and their families and recognize them all for their incredible contributions and sacrifice for our country.
The breadth of Goldman Sachs’ corruption in the recent DOJ and SEC FCPA enforcement action underscored the important global goal of reducing corruption. It goes without saying – corruption has a pernicious impact on economic development of fragile economies to the detriment of thousands, if not millions, of innocent civilians. The measurement of such harms is often cited to describe the scope of suffering for...
The Beam Suntory case is yet another example of a failure of internal and external auditors, and legal and compliance professionals. Reviewing cases involves a focus on how and why a compliance failure occurred. In many cases, legal, compliance and internal auditors are being shunned, ignored, or subjected to pressure to keep their mouths shut or agree to go forward with otherwise problematic transactions or...
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...
Dr. Charles Wolf was the Chief Compliance Officer at Merit Medical Systems, Inc. (“MMS”), who ultimately became the federal whistleblower against MMS alleging violations of the Anti-Kickback Statute. Dr. Wolf’s concerns were ultimately vindicated when the Justice Department intervened in support of his complaint. MMS settled the case with DOJ and agreed to pay $18 million. Dr. Wolf received $2.65 million from the settlement under...
Medical device maker Merit Medical Systems (“MMS”) agreed to pay $18 million to resolve allegations that the company submitted false claims to Medicare, Medicaid and TRICARE by paying kickbacks to physicians and hospitals to induce increased use of MMS products. MMS manufactures and markets disposable medical devices used in interventional and diagnostic procedures, including cardiology, radiology, oncology, critical care and endoscopy. The anti-kickback statute prohibits...
Matt Stankiewicz continues with this two-part posting on DOJ’s cryptocurrency guidance. Matt can be reached at [email protected]. DOJ’s Cyber Digital Task Force’s report, “Cryptocurrency: An Enforcement Framework,” provides a comprehensive on the growing partnerships between DOJ and other offices within the executive branch. We’ve seen the expansion of these partnerships in other legal areas, and the continued advancement of these relationships continues to build an impressive...
Matt Stankiewicz, Managing Counsel at The Volkov Law Group, rejoins us for another posting on cryptocurrency. He can be reached at [email protected]. Earlier this month, the Department of Justice (“DOJ”), through its Cyber Digital Task Force (hereinafter the “Task Force”), published its 83-page crypto guidance report titled “Cryptocurrency: An Enforcement Framework.” The Task Force, established in 2018, is tasked with evaluating threats posed by advances...
Janet Longo, Regulatory Compliance Manager, at the Volkov Law Group, joins us for a blog posting on the Commerce Department’s changes to export licensing policies and procedures for national security items destined to China, Russia and Venezuela. The Volkov Law Group has extensive expertise with complicated export license applications and is happy to provide you with additional resources to assist you with your license applications...
We have seen a significant evolution in data privacy compliance and enforcement. With the advances in technology, the public has become concerned about the collection, analysis and application of personal data. For years, such concerns have been focused in the health care and financial sectors. As the Internet and cell phone use has advanced, consumers have become alarmed as social media companies, cell phone carriers...
