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Friday Roundup

Roundup

Convicted, sentenced, to FCPA Inc. and for the reading stack. It’s all here in the Friday Roundup.

Convicted

As noted in this DOJ release: “[Donville Inniss] a former member of the Barbados Parliament, who also served as the Minister of Industry of Barbados, was found guilty [of two counts of money laundering and one count of conspiracy to commit money laundering] by a federal jury for his role in a scheme to launder bribes paid to him by executives of the Insurance Corporation of Barbados Limited (ICBL).”

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Friday Roundup

Roundup

Sentenced, scrutiny alert, and payment dispute. It’s all here in the Friday roundup.

Sentenced

Previous posts here and here highlighted the FCPA and related enforcement action against Frank Chatburn (a dual United States and Ecuadorian citizen) who was criminally charged (and ultimately plead guilty) for conspiring with others for making corrupt payments to PetroEcuador officials in order to obtain and retain contracts for Galileo (described as an Ecuadorian company that provided services in the oil and gas industry) from PetroEcuador.

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Friday Roundup

Roundup

Long Shadow and sentenced. It’s all here in the Friday roundup.

“Simply Put, the FCPA Settlement Cast a Long Shadow on the Firm”

As highlighted in prior posts here and here in 2016 hedge fund Och-Ziff resolved a $412 million Foreign Corrupt Practices Act enforcement action concerning improper business practices in various African countries.

In the aftermath of the enforcement action, the hedge fund experienced substantial withdrawals and experienced various difficulties raising capital. (See here).

A few months ago, Och-Ziff changed its name to Sculptor Capital Management, Inc. and in a recent investor conference call an executive stated:

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The Trial Penalty

penalty

Alan Dershowitz, a well-known law professor and commentator, recently penned this piece published in the Wall Street Journal titled “Most Plea Bargains Are Unconstitutional.” Deroshowitz writes:

“When is a constitutional right not a right? When you’re punished for exercising it. If the government arrests or fines you for something you say, everyone recognizes a violation of the First Amendment, even though you had your say. Yet when prosecutors and courts impose massive punishments on criminal defendants for exercising their Sixth Amendment right to trial by jury, it’s considered business as usual—even by the Supreme Court. […] In justifying the practice, prosecutors and courts play word games, denying that a far harsher sentence is a “punishment.” Rather, they say, it’s what the defendant deserved for the crime, and the relative lenience of a plea bargain is a “reward” for saving the government the expense, inconvenience and risks of a trial.”

As discussed below, one of the more egregious examples of the so-called trial penalty occurred in the FCPA context.

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