Top Menu

Hats Off To Urofsky

hatsoff

Shearman & Sterling recently released its annual “Recent Trends and Patterns in the Enforcement of the Foreign Corrupt Practices Act.”

Year in and year out, it is one of the best law firm generated FCPA year in review publications.

For years, Philip Urofsky (a former Assistant Chief of the DOJ Fraud Section where he handled FCPA matters) has been a primary author of the publication and in connection with this year’s release Urofsky announced that it would be his last “FCPA Trends and Patterns” publication as he is retiring.

Continue Reading

DOJ Files Notice Of Appeal Regarding Dismissal Of Rafoi-Bleuler Charges

appeal

As highlighted in this prior post, in 2019 Daisy Rafoi-Bleuler (a citizen of Switzerland and partner in a Swiss Wealth Management firm) was criminally charged with Foreign Corrupt Practices Act and related offenses for allegedly directing bribes to various individuals at PDVSA (Venezuela’s state-owned and state-controlled energy company).

As highlighted in this post, a judge recently dismissed the Foreign Corrupt Practices Act (and related charges) for lack of jurisdiction while also hinting that the term “agent” in the FCPA is unconstitutionally vague.

Continue Reading

Court Dismisses Criminal FCPA (And Related Charges) Against Rafoi-Bleuler For Lack Of Jurisdiction And Also Hints That The Term “Agent” In The FCPA Is Unconstitutionally Vague

Dismissed

As highlighted in this prior post, in 2019 Daisy Rafoi-Bleuler (a citizen of Switzerland and partner in a Swiss Wealth Management firm) became the latest individual to be criminally charged with Foreign Corrupt Practices Act and related offenses for allegedly directing bribes to various individuals at PDVSA (Venezuela’s state-owned and state-controlled energy company).

According to the DOJ, Rafoi opened Swiss bank accounts and facilitated financial transactions for various co-conspirators to help facilitate the bribery scheme.

As highlighted in this post, in late October 2020 Rafoi-Bleuler filed a motion to dismiss the criminal charges. In summary fashion, the motion argued: “The indictment of Ms. Rafoi-Bleuler, a citizen and resident of Switzerland, continues the worrisome trend by the Department of Justice to stretch the reach of the United States’ criminal statutes beyond Congress’ intent in an attempt to police the world. Despite having violated no laws in Switzerland and having no contact with the United States …, Ms. Rafoi-Bleuler finds herself hailed into a U.S. court in contravention of clear statutory language, legal precedent, and international norms. Courts have increasingly, and correctly, rejected such attempts by the government and this Court should continue as well …”.

Recently, Judge Kenneth Hoyt (S.D. Tex.) granted the motion to dismiss.

Continue Reading

Issues To Consider From The WPP Enforcement Action

Issues

This previous post highlighted the recent $19.2 million SEC Foreign Corrupt Practices Act enforcement action against London-based advertising agency WPP (a company with depositary shares traded on the New York Stock Exchange).

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

No Disclosure

Most issuers under FCPA scrutiny tend to disclose the scrutiny in SEC filings and thereafter disclose scrutiny developments in subsequent filings.

However, WPP appears to be a relatively rare example of an issuer not disclosing FCPA scrutiny.

Continue Reading

Stimler Enforcement Action – The Consequential E-Mail

emailsend

Yesterday’s post highlighted the Foreign Corrupt Practices Act (and related) enforcement action against Anthony Stimler (a U.K. citizen and resident who was a trader at Glencore (a commodities company incorporated in the United Kingdom and headquartered in Switzerland).

The FCPA anti-bribery charge against Stimler invoked the so-called 78dd-3 prong of the statute which has the most demanding jurisdictional hook.

Specifically, “while in the territory of the United States, corruptly to make use of the mails or any means or instrumentality of interstate commerce or to do any other act in furtherance of an offer, payment, promise to pay, or authorization of the payment of any money, or offer, gift, promise to give, or authorization of the giving of anything of value to” a foreign official.

Continue Reading

Powered by WordPress. Designed by WooThemes