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Glencore Resolves An Approximately $443 Million Net FCPA Enforcement Action

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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DOJ Announces Additional Venezuelan Bribery Schemes – Yet No FCPA Charges

Venez

This mid-2021 post highlighted the noticeable trend of the DOJ specifically alleging that an individual violated the FCPA’s anti-bribery provisions, yet not charging the individual with FCPA anti-bribery violations, but rather money laundering violations.

Last week, the DOJ returned to this playbook as it announced the unsealing of an indictment charging three Colombian nationals and two Venezuelan nationals for their alleged roles in laundering the proceeds of contracts to provide food and medicine to Venezuela that were obtained through bribes.

As stated in the DOJ release:

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Same General Script, As DOJ Charges Individual In Connection With Alleged Bribes In Venezuela

wakil

You have likely read the script many times in the last several years.

An individual associated with small privately-held companies does business in Venezuela and paid alleged bribes (and/or laundered money) in connection with the bribery scheme.

The script repeated itself yesterday as the DOJ announced that Naman Wakil (pictured), a Syrian national and U.S. lawful permanent resident, was “arrested in Miami on charges related to his alleged role in a scheme to bribe Venezuelan officials and launder funds to obtain contracts from Venezuela’s state-owned and state-controlled energy company, Petróleos de Venezuela S.A. (PDVSA), and Venezuela’s state-owned and state-controlled food company that purchased food for Venezuela, Corporación de Abastecimiento y Servicios Agrícola (CASA).”

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Sargeant Marine Cements $16.6 FCPA Resolution With DOJ Regarding Bribery Schemes In Brazil, Venezuela, And Ecuador

Sargeant Marine

Earlier this week, the DOJ announced that Sargeant Marine Inc. (SMI – an asphalt company based in Florida) “pleaded guilty and agreed to pay $16.6 million to resolve foreign bribery charges stemming from conduct by the company and its employees and agents in Brazil, Venezuela and Ecuador.”

The total criminal penalty was actually $90 million, but because of SMI’s “inability to pay” the settlement amount was only $16.6 million.

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Citgo Employees As Foreign Officials

Citgo3

In this 2009 post, the issue was raised whether the DOJ’s “foreign official” interpretation would become so broad that employees of Citgo Petroleum (a Delaware corporation with headquarters in Houston) would be considered “foreign officials” under the Foreign Corrupt Practices Act because Citgo is a subsidiary of Petroleos de Venezuela S.A. (PDVSA).

In this little noticed FCPA enforcement from February 2020 against Tulio Anibal Farias-Perez in the sprawling PDVSA related actions, the DOJ did allege this theory of prosecution.

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