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Judge Significantly Rejects DOJ Sentencing Recommendation – Sentences Hoskins To Approximately One Year For Money Laundering Offenses, DOJ Press Release Omits Material Information

arterton

As highlighted in this previous post, on February 26th Judge Janet Bond Arterton (pictured – D. Conn) granted Lawrence Hoskins’s motion for acquittal on the seven FCPA charges he was convicted of by the jury. However, the judge denied Hoskins’s motion for acquittal on the five money laundering charges he was convicted of by the jury.

Thus, next up in the long history of the case was sentencing on the money laundering convictions.

As highlighted in this post, Judge Arterton significantly rejected the DOJ’s 7-9 year sentencing recommendation and sentenced Hoskins to approximately 1 year. (See here).

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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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