Hard-hitting 'real world' actionable advice from customs compliance and supply chain experts
C TPAT Certification | Trade Innovations, Inc.
  • HOME
  • TRADE SOLUTIONS
    • SOURCING
    • TRADE COMPLIANCE
    • COMPLIANCE AUDITS AND DIAGNOSTICS
    • C-TPAT SERVICES
    • CUSTOMIZED TRAINING
    • IMPORTER SECURITY FILING (ISF)
    • DIRECT-FILING CUSTOMS ENTRIES
  • TRADE UPDATE
  • ABOUT US
  • CONTACT
  • STRATEGIC ALLIANCES
  • DIFFERENTIATION
  • SATISFIED CLIENTS
  • AMUSING AND AMAZING

$213M for FCPA Violations

10/3/2016

0 Comments

 
On September 29, 2016, a New York-based alternative investment and hedge fund manager, and its wholly-owned subsidiary, entered into resolutions to resolve criminal charges and agreed to pay a criminal penalty of more than $213 million in connection with a widespread scheme involving the bribery of officials in the Democratic Republic of Congo (DRC) and Libya. 

The company, one of the largest hedge funds, positioned itself to profit from the corruption that is sadly endemic in certain parts of Africa, including in Libya, the Democratic Republic of the Congo, Chad and Niger,” said U.S. Attorney Capers.  “Despite knowing that bribes were being paid to senior government officials, the company repeatedly funded corrupt transactions.  One company employee was so bold as to order the removal of language from their African joint venture’s internal audit report that called for an investigation of suspected bribery payments by a business partner.  Today’s corporate resolutions, which include a more than $213 million criminal penalty and an independent compliance monitor, hold the company accountable for placing profits above the law and will help ensure that the conduct brought to light here never happens again at this company.”

​To read the source document and entire DOJ Press Release please follow this link:  $213M for FCPA Violations 
0 Comments



Leave a Reply.


    Author

    Michael Laden is a Founder and Principal of the firm.  He is a licensed customs broker and has been toiling in the international trade industry for almost 40 years.  His full bio can be found on the ABOUT US page.

    View my profile on LinkedIn

    Archives

    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    November 2014
    October 2014
    September 2014
    July 2014
    June 2014

    Categories

    All

    Picture
    Trade Update Sign-Up QR Code
Copyright © 2017 Trade Innovations, Inc. - All Rights Reserved