Featured Articles:

Goldman Sachs and the Economic Impact of Corruption

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...

Beam Suntory Bribery Scheme: Another Controls Failure (Part II of II)

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...

Webinar: The Nuts and Bolts of OFAC Sanctions Compliance

Webinar: The Nuts and Bolts of OFAC Sanctions Compliance November 19, 2020 at 12 Noon EST Sign up HERE. The U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) maintains a variety of sanctions programs, which can all vary in their scope and requirements. However, while OFAC sanctions can be complicated, ensuring compliance doesn’t have to be. Regardless of the program, understanding the fundamental...

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...

Episode 168 — Review of Merit Medical False Claims Act Settlement

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. Dr. Charles J. Wolf, Merit’s former chief compliance officer, filed a whistleblower complaint against the firm in April 2016 following his resignation, in which he...

The Long Path to a Whistleblower Recovery: Former CCO Vindicated by Merit Medical Systems False Claims Act Settlement (Part II of II)

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...

Merit Medical Systems Settles False Claims Act Case for $18 Million (Part I of II)

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...

DOJ Cryptocurrency Guidance Outlines Enforcement Partnerships (Part II of II)

Matt Stankiewicz continues with this two-part posting on DOJ’s cryptocurrency guidance. Matt can be reached at mstankiewicz@volkovlaw.com. 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...

DOJ Releases Cryptocurrency Guidance and Enforcement Framework (Part I of II)

Matt Stankiewicz, Managing Counsel at The Volkov Law Group, rejoins us for another posting on cryptocurrency.  He can be reached at mstankiewicz@volkovlaw.com. 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...

Webinar: The Importance of an Ethical Culture

Webinar: The Importance of an Ethical Culture November 10, 2020, 12 Noon EST Sign up HERE. Business leaders, politicians, shareholders, the public and other stakeholders are demanding that companies adhere to and implement measures to promote and advance an ethical culture. In the face of egregious corporate scandals and aggressive government enforcement programs, companies have to devote resources and attention to their corporate cultures. Government...