Panasonic Avionics Justice Department and SEC Archives

10 Jan, 2019

SEC Settles FCPA Charges Against Ex-Panasonic Avionics Officers

On December 19, 2018, the SEC announced settlements with two former senior executives of Panasonic Avionics Corporation. In April 2018, Panasonic Avionics settled FCPA charges with the Justice Department and the SEC and agreed to pay $280 million. (Here) Paul Margis (Here), the former CEO, and Takeshi Uonaga (Here), the former CFO, agreed to pay $75,000, and $50,000 respectively, to settle books and records and...

General

7 May, 2018

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,...