Panasonic Avionics Pays $280 Million to Resolve FCPA Offenses in Middle East and Asia (Part I of II)
As the nattering nabobs of negativism continued to claim that FCPA enforcement was on the decline, the Justice Department and the SEC settled a major FCPA enforcement action with Panasonic Avionics (PAC), a subsidiary of Panasonic which provides in-flight entertainment systems (“IFEs”) to airlines. Panasonic Avionics agreed to pay a criminal fine of $137 million and $143 million in disgorgement. As part of the settlement,...
