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Issues To Consider From The TechnipFMC Enforcement Action

Issues

This previous post went in-depth into the net $81.9 million DOJ FCPA enforcement action against TechnipFMC and how the company joined the FCPA repeat offender list. This post continues the analysis by highlighting additional issues to consider.

Statute of Limitations

Pardon me for being “that guy” but the bulk of the conduct at issue in the enforcement action (both the Technip USA information and plea involving alleged conduct in Brazil and the TechnipFMC  information and DPA involving alleged conduct in Iraq) took place between 2003 and 2010 (in other words approximately 10 – 15 years prior to the enforcement action).

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DOJ Brings Additional Criminal Charges In Connection With PetroEcuador Bribery Scheme

petroecuador

Similar to how the April 2018 indictment of Frank Roberto Chatburn Ripalda alleging a bribery scheme involving PetroEcuador officials generally went unnoticed (see here for the prior post), this May 2019 indictment of Armengol Alfonso Cevallas Diaz (an Ecuadorian citizen) and Jose Melquiades Cisneros Alarcon (an Ecuadorian citizen and permanent resident of the U.S.) concerning the same alleged bribery scheme also generally went unnoticed.

The indictment charges Cevallos and Cisneros with conspiracy to violate the FCPA’s anti-bribery provisions, conspiracy to commit money laundering, and numerous money laundering offenses.

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Issues To Consider From The Walmart Enforcement Action

Issues

This prior post went in-depth into the long-awaited Walmart Foreign Corrupt Practices Act enforcement action in which the company agreed to pay the DOJ/SEC approximately $283 million. This post highlights additional issues to consider from the enforcement action.

Timeline

Walmart was under FCPA scrutiny since approximately mid-2011. Thus, from start to finish its FCPA scrutiny lasted an unconscionable approximate 8 years. There is simply no excuse for this and the DOJ/SEC have long-recognized the issues associated with long-drawn out investigations.

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Friday Roundup

Roundup

Banking bar, Kokesh related, OECD shaming, quotable, downfall, and listening in. It’s all here in the FCPA roundup.

Banking Bar

The Federal Reserve recently announced “that it is prohibiting Tim Leissner and Ng Chong Hwa, also known as Roger Ng, from the banking industry for their participation in a scheme to illegally divert billions of dollars from a Malaysian sovereign wealth fund. Leissner was also fined $1.42 million and consented to the permanent ban.”

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Issues To Consider From Recent Enforcement Actions

Issues

Previous posts here and here highlighted the late December 2018 Foreign Corrupt Practices Act enforcement actions against Eletrobras and Polycom. This post continues the analysis by highlighting additional issues to consider.

Timelines

As highlighted in this previous post, in June 2015 it was reported that Eletrobras hired a law firm to investigate FCPA issues. Thus, the company’s FCPA scrutiny appears to have lasted approximately 3.5 years. Once again, if the SEC wants its FCPA enforcement program to be viewed as legitimate and credible, it must resolve instances of FCPA scrutiny much quicker.

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