Login | Join | Contact Us
Five convictions in SFO’s Alstom investigation into bribery & corruption
US sportswear traced to factory in China’s internment camps
Tabung Haji COO under four-day MACC custody for bribery probe
Estonia makes first arrests over Danske money laundering
Brazil's Andrade Gutierrez to pay $381 million fine to settle graft charges
SFO director Lisa Osofsky wants agency to crack down on 'corporate big boys'
Barclays hit with $15m fine over attempts to unmask whistleblower
Goldman Sachs fires back after Malaysia charges bank in 1MDB probe
The Complete Compliance and Ethics Manual – 2019
International Compliance 101
On Dec. 19, the UK Serious Fraud Office reported, “Nicholas Reynolds was found guilty of conspiracy to corrupt today at Blackfriars Crown Court following an extensive investigation and prosecution brought by the Serious Fraud Office. The conviction brings to four the number of total convictions in relation to this conspiracy to bribe officials in a Lithuanian power station and senior Lithuanian politicians in order to win two contracts worth €240 million. These individuals falsified records to avoid checks in place to prevent bribery and between them, the Alstom companies paid more than €5 million in bribes to secure the contracts.”
On Dec. 19, the Associated Press reported, “Behind locked gates, men and women are sewing sportswear that can end up on U.S. college campuses and sports teams. This is one of a growing number of internment camps in the Xinjiang region, where by some estimates 1 million Muslims are detained, forced to give up their language and their religion and subject to political indoctrination. Now, the Chinese government is also forcing some detainees to work in manufacturing and food industries. Some of them are within the internment camps; others are privately owned, state-subsidized factories where detainees are sent once they are released.”
On Dec. 19, Malay Mail (Malaysia) reported, “Lembaga Tabung Haji (TH) chief operating officer Datuk Adi Azuan Abdul Ghani will be remanded until Saturday to aid the Malaysian Anti-Corruption Commission (MACC) investigate allegations that he solicited and received bribes. Adi Azuan's lawyer Datuk Shaharudin Ali said the remand order was given by a magistrate in Putrajaya today. … ‘He is being investigated under Section 17(a) of the MACC Act and that is soliciting and receiving bribes as an agent,’ the lawyer told Malay Mail.”
On Dec. 19, Reuters reported, “Estonia has made its first arrests in one of the biggest money laundering scandals in history involving Denmark’s Danske Bank, detaining 10 former employees at the bank’s Estonian branch, the state prosecutor said Wednesday. Authorities in Denmark, Estonia, Britain and the United States are investigating payments totalling 200 billion euros (180 billion pounds) made through the Danish bank’s tiny Estonian branch between 2007 and 2015.”
On Dec. 18, Reuters reported, “Andrade Gutierrez Engenharia, a construction company, has signed a 1.49 billion reais ($381.49 million) deal to settle corruption allegations against it, federal authorities said on Tuesday, as part of the so-called ‘Car Wash’ graft investigation. Andrade Gutierrez is one of more than 30 construction companies being investigated in the sprawling probe which has ensnared senior executives and high-ranking politicians in Latin America’s largest economy.”
On Dec. 18, City A.M. (UK) reported, “Ex-FBI lawyer turned SFO director Lisa Osofsky told the Justice Select Committee that senior individuals within large corporate organisations were not being held accountable because the agency was ‘hamstrung’ by the so-called ‘identification principle’, in which the top ‘controlling minds’ had to be in the dock for a corporate to be held liable. Osofsky said the law was outdated because it was developed when there were only up to four people running a company. … ‘I can go after Main Street but I can't go after Wall Street.’”
On Dec. 18, The Guardian reported, “Barclays has been slapped with a $15m (£12m) fine by a New York regulator over attempts by chief executive Jes Staley and senior management to unmask a whistleblower. The New York state department of financial services said its investigation found ‘shortcomings in governance, controls and corporate culture relating to Barclays’ whistleblowing function.’”
On Dec. 17, Reuters reported, “Malaysia on Monday filed criminal charges against Goldman Sachs Group Inc related to its dealings with the sovereign wealth fund 1MDB, and Goldman Sachs fired back that the previous Malaysian government had lied to the investment bank. Malaysia authorities charged the bank and two former Goldman employees in connection with an investigation into suspected corruption and money laundering related to the scandal.”
Get discounts on events and products! Learn more about the benefits of an SCCE membership.
To ensure they see the same great content you do, attach CCWN to an email instead of forwarding.
Do you want to receive the latest corporate compliance world news, too? Subscribe! It’s quick and free!
Please feel free to contact the Corporate Compliance Weekly Newsletter editor, Margaret Martyr.
To View the full content on this page you might have to login to your SCCE account. If you do not already have a login and password you can create one for free.
If you have a login click here
To create a login click here
Become a member
Past Web Conference CDs
Post a Job
Post an Internship
6500 Barrie Rd., Ste. 250
Minneapolis, MN 55435
Phone: (952) 933-4977 (888) 277.4977
Fax: (952) 988-0146