July 20, 2009
The inbox brought a surprise from a generous reader — the jury instructions Judge Scheindlin issued in Frederic Bourke’s case. We talked earlier about the “knowledge” element of an FCPA offense and the two kinds of “knowledge” the government can prove: What the defendant actually knows and what he or she should know under the circumstances. We guessed how Judge Scheindlin might have instructed concerning “knowledge;” now we know. . .
Read the entire post on The FCPA Blog www.fcpablog.com
July 17, 2009
The Chinese government this week alleged that employees of Rio Tinto bribed executives from 16 Chinese steel mills that buy its iron ore for themselves and China’s 120 steel producers. Anglo-Australian Rio Tinto is among the world’s largest iron ore miners and has been a major supplier to China’s steel industry, which is mostly state-owned. . .
Read the entire post on The FCPA Blog www.fcpablog.com
July 16, 2009
In the 1990s, according to the Justice Department, American businessman James Giffen had the title of counselor to the president of Kazakhstan. His job was to help with “priority investment projects relating to the exploration, development, production, transportation, and processing of oil and gas.” That made him hugely important in Kazakhstan and far beyond. . .
Read the entire post on The FCPA Blog www.fcpablog.com
July 15, 2009
Evan Osnos’ Letter from China in last week’s New Yorker included this excerpt from a piece circulating in China (in Chinese only) about the violence in Xinjiang. It’s attributed to Zhong Dajun, described as a prominent economic consultant and former editor at the China Economic Times: . . .
Read the entire post on The FCPA Blog www.fcpablog.com
July 14, 2009
Prosecutors told the jury during Frederic Bourke’s trial that instead of doing adequate due diligence for his investment in Viktor Kozeny’s Azerbaijan privatization scheme, he’d “stuck his head in the sand.” It may not sound like legal jargon but the “head-in-the-sand” phrase pops up often in criminal law and appears prominently in the Foreign Corrupt Practices Act’s legislative history. . .
Read the entire post on The FCPA Blog www.fcpablog.com
July 13, 2009
Here’s what struck us. That nowhere else would Frederic Bourke have been prosecuted on the facts of his case. A few other countries have taken small steps to fight overseas corruption — Germany, the U.K., Japan. But Friday’s verdict showed again that no country comes close to America’s ferocity in punishing bribery abroad. We’re not arguing now if that’s good or bad. We’re just wondering how Bourke came to be convicted of two felonies. . .
Read the entire post on The FCPA Blog www.fcpablog.com
July 10, 2009
Last week the World Bank announced that Siemens will pay $100 million over the next 15 years to settle corruption charges involving a project in Russia. The money is supposed to go to anti-corruption groups, for compliance training and education programs, as well as helping governments recover assets stolen by crooked leaders. . . .
Read the entire post on The FCPA Blog www.fcpablog.com
July 9, 2009
Whoa. Did that guy just say the Foreign Corrupt Practices Act causes corruption and hurts poor people? What kind of person would talk that way? Doesn’t he know how the FCPA spreads the good news of American business ethics to the four corners of the planet? That he’s attacking a law that, as Jeffrey Garten once told us, falls into the same category as mom and apple pie? . . .
Read the entire post on The FCPA Blog www.fcpablog.com
July 8, 2009
One of Russia’s leading anti-corruption journalists died last week from head wounds received two months ago in an attack outside his home. Vyacheslav Yaroshenko, 63, ran the paper Korruptsia i Prestupnost (Corruption and Crime) in Rostov-on-Don. The local media had reported that he either was in a brawl or fell down the stairs . . .
Read the entire post on The FCPA Blog www.fcpablog.com
July 7, 2009
China’s new nationwide anti-corruption hotline mentioned earlier is off to a good start. Too good, in fact. During the first week more than 11,000 calls jammed the phones. The China Daily said only one in five calls connected to the hotline because its ten operators were overwhelmed. Six thousand more online submissions crashed the website. . . .
Read the entire post on The FCPA Blog www.fcpablog.com
