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Scrutiny Alerts And Updates

By on November 6, 2020 in Bombardier, Tenaris, Uncategorized
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Tenaris Poised to Join the FCPA Repeat Offender Club

The list of FCPA repeat offenders is long and may grow in the future.

In 2011, Tenaris S.A. (a company headquartered in Luxembourg with American Depository Receipts listed on the New York Stock Exchange) resolved an approximate $9 million Foreign Corrupt Practices Act enforcement action regarding conduct in Uzbekistan (see here for the prior post).

For several years, Tenaris has been under scrutiny for its relationship with Petrobras in Brazil and in October 2016 the company “voluntarily notified” the SEC and DOJ.

Tenaris recently disclosed:

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Scrutiny Alerts And Updates

By on August 9, 2019 in Bombardier, Frutarom, Herbalife, International Flavors and Fragrances, Stericycle, Veolia
scrutiny alert

This post highlights Foreign Corrupt Practices act and related scrutiny alerts and updates regarding the following companies: International Flavors and Fragrances, Herbalife, Veolia, Stericycle, and Bombardier.

International Flavors and Fragrances

In October 2018, New York based International Flavors and Fragrances (IFF) Inc. acquired Israel-based Frutarom Industries Ltd. (a flavors, savory solutions and natural ingredients company).

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Friday Roundup

By on January 5, 2018 in ALSTOM, Bombardier, Canada, Ciena Corp, Collateral Effects, Eberhard Reichert, ISO 37001, Joo Hyun Bahn, Larry Kushniruk, Petrobras, Related Civil Litigation, SEC, Siemens Argentina Enforcement Action
Roundup

Guilty plea, Petrobras civil settlement, Alstom is done reporting, scrutiny alert, SEC FCPA enforcement, from the docket, checking in up north, and for the reading stack. It’s all here in the Friday roundup.

Guilty Plea

As highlighted in this prior post, in January 2017 the DOJ announced an FCPA and related enforcement action against four individuals for their roles in a scheme to pay $2.5 million in bribes to facilitate the $800 million sale of a commercial building in Vietnam (the so-called Landmark 72) to a Middle Eastern sovereign wealth fund.

Today, the DOJ announced: “Joo Hyun Bahn, aka Dennis Bahn, 39, of Tenafly, New Jersey, pleaded guilty in federal court in Manhattan to one count of conspiracy to violate the Foreign Corrupt Practices Act (FCPA) and one count of violating the FCPA.  U.S. District Judge Edgardo Ramos of the Southern District of New York accepted the guilty plea.  Sentencing is scheduled for June 29 …”.

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Friday Roundup

By on March 31, 2017 in Bombardier, Compliance, Douglas Ray, FCPA Sentences, Greens, Siriwan, Telefonica
Roundup

FCPA sentence, scrutiny alerts and updates, flummoxed, lots of time to watch film, and for the reading stack. It’s all here in the Friday roundup.

FCPA Sentence

This December 2016 post highlighted the DOJ’s announcement of FCPA conspiracy charges and plea agreements against four individuals (Daniel Perez, Kamta Ramnarine, Victor Valdez, and Douglas Ray) associated with Hunt Pan Am Aviation in connection with a Mexican bribery scheme.

Perez and Ramnarine were both previously sentenced to three years probation and Valdez was sentenced to 1 year and a day in federal prison, 2 years of supervised release, and ordered to pay approximately $91,000 in restitution.

Yesterday, Ray was sentenced to 18 months in federal prison, 3 years of supervised release, and ordered to pay approximately $590,000 in restitution.

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Scrutiny Alerts And Updates

By on March 17, 2017 in Bombardier, Cobalt International Energy, Elek Straub, Mormon Church, Platform Speciality Products
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Scrutiny alerts and updates regarding Elek Straub, Platform Speciality Products, Cobalt International, Bombardier, and the Mormon Church.

Elek Straub

In December 2011, in connection with the Foreign Corrupt Practices Act enforcement action against Magyar Telekom, the SEC also charged former Magyar Telekom executives Elek Straub (former Chairman and CEO); Andras Balogh (former Director of Central Strategic Organization); and Tamas Morvai (former Director of Business Development and Acquisitions) with various FCPA and related offenses. (See here for the prior post).

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