criminal indictment Archives - Corruption, Crime & Compliance

25 May, 2022

Allianz Global Hit With $6 Billion Fine And Portfolio Manager Indicted in Connection with Million-Dollar Fraud Scheme

In a blockbuster settlement, DOJ unleashed its full power against Allianz Global and key portfolio managers responsible for a massive, long running fraud scheme involving a series of private investment funds managed by Allianz Global Investors U.S. (AGI). These funds eventually collapsed as a result of the economic hardships caused by the pandemic, resulting in investor losses of billions of dollars. Gregoire Tournant, Chief investment...

General

19 Oct, 2021

The Forkner Indictment for the Tragic Boeing 737 MAX Fraud and Crashes (Part II of III)

Mark Forkner, a former Chief Technical Pilot, was indicted on two counts of fraud involving aircraft parts in interstate commerce and four counts of wire fraud. If convicted, he faces a maximum penalty of 20 years in prison on each count of wire fraud and 10 years in prison on each count of fraud involving aircraft parts in interstate commerce. Boeing began to develop the...

General

31 Aug, 2020

Teva Pharma Charged with Antitrust Conspiracy in Generic Pharmaceuticals Industry

Teva, the global pharmaceutical giant, was indicted last week as part of DOJ’s expanding criminal conspiracy investigation focused on illegal price-fixing and customer allocations. Teva and DOJ sought to resolve the case in advance of indictment but were unable to reach agreement. DOJ then decided to indict Teva in a broad conspiracy. Given the broad legal implications of such an indictment, Teva is unlikely to...

General

19 Feb, 2019

Reflections on the Cognizant FCPA Resolution: Does DOJ Mean What it Says? (Part III of IV)

It’s easier to fool people than to convince them they have been fooled. — Mark Twain The only difference between reality and fiction is that fiction needs to be credible. — Mark Twain We live in an era where credibility and truthfulness are character values that are often challenged, questioned and indeed overrun. Trust and integrity are values of utmost value and importance. In an...

General

12 Feb, 2019

Four Audi Executives Indicted for Emissions Cheating Scandal

In January 2019, the US Attorney for the Eastern District of Michigan returned an indictment against four executives from Audi, a Volkswagen subsidiary, for their participation and direction of Audi’s emissions-cheating scandal. In December 2018, Audi paid a fine of 800 million euros to settle charges with German prosecutors. Audi’s CEO, Rupert Stadler, was arrested and has been charged in Germany with alleged fraud and...