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Issues To Consider From The Corficolombiana / Grupo Aval Enforcement Action

Issues

This previous post highlighted the net $60.6 million Foreign Corrupt Practices Act enforcement action against Colombian entities Corficolombiana / Grupo Aval.

This post continues the analysis by highlighting additional issues to consider.

Cash Cow?

In the minds of some (including former FCPA enforcement officials), FCPA enforcement is a convenient cash cow for the U.S. government.

Those who believe this will find support in the Corficolombiana / Grupo Aval enforcement action.

The allegations were basically as follows.

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DOJ “Piles On” Airbus And Other Issues To Consider

piling

Prior posts here and here went in-depth into the recent $294 million Foreign Corrupt Practices Act enforcement action against Airbus as well as the United Kingdom’s prosecution of the company.

This post continues the analysis by highlighting additional issues to consider.

“Piling On”

As highlighted in this prior post, in 2018 the DOJ announced a non-binding policy discouraging “piling on” by instructing DOJ “components to appropriately coordinate with one another and with other enforcement agencies in imposing multiple penalties on a company in relation to investigations of the same misconduct.”

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Issues To Consider From The Ericsson Enforcement Action

Issues

This previous post went in-depth into the Ericsson enforcement action and this post continues the analysis by highlighting additional issues to consider.

Record-Setting

Although there are certain haphazard FCPA top ten lists out there, the Ericsson enforcement action is the largest in FCPA history in terms of actual FCPA settlement amount. (See here for the current top ten list).

Record-Setting?

Even though the Ericsson enforcement action was record-setting, the question arises should it have been record-setting or was it an example of FCPA settlements increasing just because (see here for the prior post)?

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“Frankly, If You Bring In A Couple Billion Dollars A Year, You Just Keep On Going,” And Other Musings From Former FCPA Prosecutors

listeningin

This Trace International Bribe, Swindle or Steal podcast is a recording of a recent panel discussion between former FCPA prosecutors Charles Duross (DOJ), Nat Edmonds (DOJ) and Richard Grime (SEC).

It is an informative listen on several levels including voluntary disclosure and international cooperation and set forth below are some of the more candid comments from the former FCPA prosecutors.

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Friday Roundup

Roundup

Odebrecht / Braskem settlement amount is significantly trimmed, a form of bribery?, quotable, deficient internal controls, and scrutiny alerts and updates. It’s all here in the Friday roundup.

Odebrecht / Braskem Settlement Amount Significantly Trimmed

There was much false and misleading reporting about the FCPA settlement amount in the December 2016 FCPA enforcement action against Odebrecht / Braskem.

As highlighted in this post, after accounting for various credits and deductions (including for payments to Brazil and Swiss law enforcement agencies and a claimed inability to pay) the net FCPA settlement amount (subject to potential future adjustments) was approximately $420 million. The $420 settlement amount consisted of approximately $260 million in connection with the Odebrecht criminal information and plea agreement; $94.8 million in connection with the Braskem criminal information and plea agreement; and $65 million in connection with the SEC’s related enforcement action against Braskem.

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