FCPA Professor has been described as “the Wall Street Journal concerning all things FCPA-related,” and “the most authoritative source for those seeking to understand and apply the FCPA.” Set forth below are the topics discussed this week on FCPA Professor. In this FCPA Flash podcast episode former DOJ FCPA Unit prosecutor Samer Korkor discusses the framework for transnational cooperation and multi-jurisdictional resolutions – areas of significant importance to FCPA and other white collar investigations and prosecutions.…
Scratch that trial, scrutiny alert, affirmed, follow-up, Braskem-related, and across the pond. It’s all here in the Friday roundup. Scratch That Trial One of the FCPA trials scheduled this Fall (see here for the prior post) involved Frank Chatburn. As highlighted here, in April 2018 Frank Roberto Chatburn Ripalda (a dual United States and Ecuadorian citizen) was criminally charged for conspiring with others for making corrupt payments to PetroEcuador officials in order to obtain and retain contracts…
Companies doing business in the global marketplace engage all types of third parties. Generally, Foreign Corrupt Practices Act compliance tends to focus, with good reason, on third parties such as agents, representatives, distributors and others that assist a company in obtaining or retaining business. However, given the DOJ and SEC’s broad interpretation of that element of the FCPA’s anti-bribery provisions, any third party that has a point of contact with foreign officials – even if…
Prior posts here and here highlighted several Foreign Corrupt Practices Act enforcement actions in which a company received a reduction in the settlement amount based on a claimed inability to pay. In certain instances, it appears as if the DOJ / SEC were duped (see here for example). Thus, yesterday’s release of this non-binding DOJ policy memo titled “Evaluating a Business Organization’s Inability to Pay a Criminal Fine or Criminal Monetary Penalty,” while not FCPA…
At last week’s FCPA Institute – Boston (attended by a diverse group of professionals from leading companies and firms from around the world) a participant asked about any differences between the percentage of U.S. company Foreign Corrupt Practices Act enforcement actions that originate with a voluntary disclosure vs. FCPA enforcement actions against non-U.S. companies that originate with a voluntary disclosure. I responded that U.S. company enforcement actions were much more likely to result from voluntary…
Guaranteed investment returns of 227% to 363% over six years. Sounds too good to be true, right? Not so fast. What if the oil and gas investment includes a guaranteed monthly stream of income for six years regardless of oil prices? Well, investors in 28 states took a piece of the action. During two years ending in 2016, 70 retail investors gave William J.Milles, Jr. and Donald J. Lutzko almost $4 million to invest in…
The FCPA Flash podcast provides in an audio format the same fresh, candid, and informed commentary about the Foreign Corrupt Practices Act and related topics as readers have come to expect from written posts on FCPA Professor. This FCPA Flash episode is a conversation with Samer Korkor who left the DOJ’s FCPA Unit in May 2019. Korkor is currently a law professor at the David Clarke School of Law at the University of District Columbia…