As highlighted in recent posts here and here, there are several companies in the FCPA repeat offender club.
ABB (a Swiss-based power and automation technology company) may become a three-time FCPA violator.
First, some relevant background.
The first time ABB resolved a Foreign Corrupt Practices Act enforcement action was in 2004 concerning conduct in Nigeria, Angola and Kazakhstan. The $16.4 million enforcement action involved an SEC component ($5.9 million) and a DOJ component ($10.6 million).
The second time ABB resolved an FCPA enforcement action was in 2010 concerning conduct in Mexico as well as in connection with the Iraqi U.N. Oil for Food program. The $58.3 million enforcement action involved an SEC component ($39.3 million) and a DOJ component ($19 million).
As to a potential third time, according to this report:
“ABB said it was cooperating with anti-fraud authorities in the United States and Britain and had reported past dealings with Monaco-based engineering and construction group Unaoil, including alleged improper payments to third parties.”
