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Martinelli Brothers Sentenced To Prison In Connection With Odebrecht Bribery Scheme

Prison

As highlighted here, in November 2021 announced the unsealing of a 2020 criminal complaint against agents associated with Odebrecht in connection with the company’s 2016 FCPA enforcement action (see here for the prior post).

Brothers Luis Enrique Martinelli Linares and Ricardo Alberto Martinelli Linares (both citizens of Panama and Italy and the sons of former Panamanian President Ricardo Martinelli) allegedly “participated in the Odebrecht bribery scheme by, among other things, serving as intermediaries for bribe payments and the provision of other things of value that Odebrecht offered and provided to the Panama Government Official (their father). The complaint alleged that, among other things, the defendants “established offshore bank accounts in the names of offshore shell companies to receive and disguise bribe payments from Odebrecht made for the benefit of the Panama Government Official.

The brothers pleaded guilty and were recently sentenced to 36 months in prison and were ordered to forfeit more than $18.8 million, pay a $250,000 fine, and serve two years’ supervised release. (See here for the DOJ release).

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Free Webinar – Exploring The Mechanisms Used to “Fund” Bribery Schemes

funding

On June 9th, I will be participating in a free webinar hosted by Lextegrity titled “Exploring the Mechanisms Used to ‘Fund’ Bribery Schemes.”

Generally speaking, a corporate bribery scheme often involves the creation of a “pot of money” within a business organization to “fund” a scheme. In such cases, employees often use existing corporate mechanisms (beyond third parties) to fund these schemes. This webinar will highlight various examples from recent FCPA enforcement actions.

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Elevate Your FCPA Knowledge And Practical Skills With The FCPA Institute Online

InstituteOnline

The FCPA Institute Online is the most comprehensive online FCPA training course available and is a time and cost efficient way for in-house and outside counsel; compliance professionals; finance, accounting, and auditing professionals; business executives and others to elevate their FCPA knowledge and practical skills.

The FCPA Institute Online consists of over 12 hours of narrated instruction from Professor Koehler (as well as availability to answer questions) and guides professionals through the following FCPA topics in an integrated and cohesive manner.

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Goldman’s $79.5 Million Ripple

Ripple

Foreign Corrupt Practices Act settlement amounts are one obvious consequence of FCPA non-compliance and tend to generate the most headlines.

However, as has been discussed on these pages for years  including in this article “FCPA Ripples”, settlement amounts are only one consequence of the overall financial ramifications of FCPA scrutiny and enforcement.

As highlighted in this prior post, in October 2020 Goldman Sachs resolved a net $1.66 billion DOJ/SEC FCPA enforcement action in connection with its participation in 1MDB (Malaysia’s state-owned and state-controlled investment development company).

As often happens in connection with FCPA scrutiny or enforcement, lawyers representing shareholders filed civil actions including derivative actions alleging that Goldman officers and directors breached fiduciary duties in connection with the underlying conduct.

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Who Really Cares?

Whocares

Early in my professional career, a mentor told me that some of the most intense professional disagreements involve matters in which so little is actually at stake.

I was reminded of this upon reading the funny pissing match about the best way to “measure” “corruption.”

As highlighted in this post, the European Centre for Anti-Corruption and State Building and the Center for International Private Enterprise recently released a “new free corruption analysis tool” called the Corruption Risk Forecast (CRF) which uses a term “Index for Public Integrity” (IPI) to rank certain countries. According to the groups, “the CRF relies on 30 fact-based indicators directly linked to observed sources instead of subjective coding of non-numerical data, which varies from year to year. The data used in the CRF is granular and comprehensive, spanning from the accessibility of land or business ownership information to the online disclosure of government mining concessions.”

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