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Glencore Resolves An Approximately $443 Million Net FCPA Enforcement Action

By on May 25, 2022 in 2022 Enforcement Action, Brazil, Cameroon, Congo, DOJ Enforcement Action, Equatorial Guinea, Foreign Non-Issuer Company, Glencore, Ivory Coast, Monitor, Nigeria, Oil and Gas Industry, Permits / Licenses / Customs / Tax, Third Parties, Venezuela
glencore

In mid-2018 Glencore (a commodities company incorporated in the United Kingdom and headquartered in Switzerland disclosed that it was under scrutiny by the DOJ. (See here for the prior post).

Specifically, the company disclosed:

“Glencore Ltd, a subsidiary of Glencore plc, has received a subpoena dated 2 July, 2018 from the US Department of Justice to produce documents and other records with respect to compliance with the Foreign Corrupt Practices Act and United States money laundering statutes.  The requested documents relate to the Glencore Group’s business in Nigeria, the Democratic Republic of Congo and Venezuela from 2007 to present. Glencore is reviewing the subpoena and will provide further information in due course as appropriate.”

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Fresenius Medical Care Pays Approximately $232 Million To Resolve Its Long-Standing FCPA Scrutiny

By on March 29, 2019 in 2019 Enforcement Actions, Angola, Anything of Value, Benin, Bosnia, Burkina Faso, Cameroon, Charitable Contributions, China, Distributor Issues, DOJ Enforcement Action, Fresenius Medical Care, Gabon, Healthcare Providers As Foreign Officials, Ivory Coast, Joint Venture, Medical Device Industry, Mexico, Monitor, Morocco, Niger, Permits / Licenses / Customs / Tax, Saudi Arabia, SEC Enforcement Action, Senegal, Serbia, Spain, Travel and Entertainment, Turkey
fresenius

German healthcare firm Fresenius Medical Care AG (a company with American Depositary Receipt shares traded on the NYSE) has been under FCPA scrutiny since 2012 (no that is not a typo).

Today the DOJ and SEC announced (here and here) an approximate $232 million enforcement action ($84.7 million to the DOJ and $147 million to the SEC) against the company for alleged bribery schemes involving physicians and other healthcare personnel in Angola, Saudi Arabia, Morocco, Spain, Turkey, Gabon, Benin, Burkina Faso, Senegal, Ivory Coast, Niger, Cameroon China, Serbia, Bosnia, and Mexico.

While not specified in any of the resolution documents, the DOJ’s non-prosecution agreement and SEC’s administrative order make generic reference to the Angola and Saudi Arabia conduct involving ‘agents and employees utiliz[ing] the means and instrumentalities of U.S. interstate commerce, including the use of internet-based email accounts hosted by numerous service providers located in the United States.”

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