Rio Tinto Archives - Corruption, Crime & Compliance

3 Apr, 2023

Episode 268: FCPA Catch Up: Corsa Coal Declination and Flutter and Rio Tinto SEC Settlements

The Justice Department is continuing its push to encourage to encourage companies to voluntarily disclose FCPA misconduct. In its latest declination, DOJ settled with Corsa Coal for its bribery scheme in Egypt. Under the declination, Corsa Coal paid $1.2 million in disgorgement and earned a significant reduction from DOJ because of its inability to pay. The SEC recently settled two separate enforcement actions, one against...

General

29 Mar, 2023

Rio Tinto Pays $15 Million to Resolve FCPA Violations in Guinea

Rio Tinto, the global mining and metals company, agreed to pay the SEC $15 million to settle FCPA violations arising from an alleged bribery scheme involving a senior Guinean government official. Between 1997 and 2006, Rio Tinto was granted mining and exploration rights to four section blocks in the Simandou mountain region. In late 2008, after a change in administrations, the Guinea Government revoked Raio...