Tagged: Gaddafi corruption

Société Générale and Legg Mason Pay the Price for Bribery in Libya (Part II of III)

Société Générale and Legg Mason carried out a massive bribery scheme to pay Gaddafi-era government officials in Libya in exchange for large investments by Libya government funds.  In total, Société Générale and Legg Mason paid over $90 million in bribes in exchange for over $3.6 billion in investments and profits of over $500 million. The Bribery Scheme In a lengthy factual statement, the government, Société...

Justice Department Settles Gaddafi-Libya FCPA Cases with Société Générale and Legg Mason (Part I of III)

In a one-two punch of FCPA enforcement actions, the Justice Department announced two related FCPA settlements involving Société Générale and Legg Mason for Gaddafi-era bribery payments to Libyan officials. In the first settlement announced, Société Générale agreed to pay a total of $860 million in criminal penalties, $585 million for FCPA violations and $275 million in a separate investigation for manipulation of London InterBank Offered...