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University top suspected of bribery involvement
US demands Glencore documents to check on corruption
Jim Beam faces SEC hangover after bribery allegations in India
The Latest: Malaysia gov't confirms arrest of ex-PM Najib
How Should Antitrust Regulators Check Silicon Valley’s Ambitions?
Eike Batista: Brazilian ex-billionaire jailed for bribery
PwC must pay FDIC $625.3 million over bank's collapse: U.S. judge
AbbVie hit with record $448m US FTC antitrust fine
Former health care chief executive sentenced to 9.5 years in federal prison
The Complete Compliance and Ethics Manual — 2018
Workplace Investigations: Techniques and Strategies for Investigators and Compliance Officers
On July 5, NHK (Japan Broadcasting Corporation) reported, “On Wednesday, Tokyo prosecutors arrested Futoshi Sano, 58 years old, on suspicion of illicitly having his son enrolled at Tokyo Medical University in return for giving it favorable treatment in May last year. Sano was head of the ministry's Science and Technology Policy Bureau, but was dismissed from the post after the arrest. Sources close to the matter told NHK that Masahiko Usui, the head of Tokyo Medical University's board of directors, asked Sano to help his school become a beneficiary of a subsidy program for private universities.”
On July 4, the Associated press reported, “Shares in commodities giant Glencore plunged Tuesday after the company was ordered to hand over documents to the U.S. Department of Justice for a check on its compliance with corruption and money laundering rules. The company, which is based in Baar, Switzerland, said Tuesday the requested documents and records relate to its business in Nigeria, the Democratic Republic of Congo and Venezuela from 2007 onwards. It said it is reviewing the subpoena. Shares in the company, which sources and trades raw materials like metals and grains, dropped about 8 percent in London, where they are listed.”
On July 3, Bloomberg reported, “A push by the distributor of Jim Beam to get more Indians to drink its booze has left the company with a hangover in the U.S. Beam Suntory Inc. has agreed to pick up a roughly $8 million tab for allegedly bribing government officials for years to make inroads in India's highly regulated liquor business, the U.S. Securities and Exchange Commission said in a Monday statement. Between 2006 and 2012, the company made illicit payments through third-party sales promoters and distributors to get licenses and secure prominent placements on store shelves, the SEC said.”
On July 3, the Associated Press reported, “Investigators on a government task force investigating alleged theft and money laundering at the 1MDB state investment fund said [Najib Razak’s] arrest Tuesday was linked to the anti-graft agency's probe into 42 million ringgit ($10.6 million) that was transferred into Najib's bank account from SRC International, a former 1MDB unit, using multiple intermediary companies. It didn't give details of the charges against Najib.”
On July 3, The New York Times reported, “The Justice Department has said that the United States District Court’s ruling in favor of AT&T’s bid to acquire Time Warner will harm consumers. But Judge Richard Leon, who made the decision, has done consumers a favor. His ruling will help legacy media companies stand up to Facebook, Amazon, Apple, Netflix and Google. These tech giants have revolutionized the customer experience and disrupted everything from our viewing choices to our shopping habits and how we pay for goods and services.”
On July 3, BBC reported, “Eike Batista had an estimated worth of more than $35bn (£27bn) six years ago, but lost most of it as his empire collapsed. He was found guilty of bribing former Rio de Janeiro governor Sergio Cabral. Batista paid more than £16m to foreign bank accounts held by Mr Cabral in exchange for contracts with Rio State. … Now he is the symbol of a different kind of Brazil: one that is deep economic trouble but is trying to tackle years of corporate corruption.”
On July 2, Reuters reported, “[U.S. District Judge Barbara Rothstein] said PwC failed to uncover a multi-year fraud between Colonial, its former client, and Ocala, Florida-based Taylor, Bean & Whitaker, once the nation’s 12th largest mortgage lender and a major Colonial customer. The FDIC sued in its role as receiver for Colonial Bank, which once had more than $25 billion of assets and 340 branches. Taylor Bean also failed in August 2009. Its former chairman, Lee Farkas, is serving a 30-year prison term for his 2011 conviction on fraud and conspiracy charges.”
On July 2, in-PharmaTechnologist reported, “AbbVie and partner Besins Healthcare have been ordered to pay $448m in an antitrust case launched by the Federal Trade Commission. The case began in 2014 and revolved around two allegations brought against AbbVie and Besins, though also extending to include Teva, regarding their Androgel testosterone replacement gel. The initial charges were that AbbVie and Besins had filed ‘baseless’ patent infringement lawsuits against Teva and Perrigo Company that were designed to delay the US Food and Drug Administration (FDA)’s decision on their proposed generic competitors to Androgel.”
On June 29, the U.S. Department of Justice reported, “INDIANAPOLIS B United States Attorney Josh J. Minkler today announced the sentencing of the former CEO of American Senior Communities (ASC) in a massive fraud, kickback, and money laundering conspiracy. James Burkhart, 53, of Carmel, was sentenced to 114 months imprisonment by U.S. District Court Judge Tanya Walton Pratt. … For his part, Burkhart pleaded guilty to three federal felony offenses: conspiracy to commit fraud, conspiracy to violate the health care anti-kickback statute, and money laundering. All told, he and his co-conspirators funneled nearly $19.4 million in fraud and kickbacks to themselves through a web of shell companies.”
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