August 31, 2009
The Securities and Exchange Commission filed a settled enforcement action Friday against Oscar H. Meza, the former sales director in Asia for Faro Technologies, Inc. Florida-based Faro designs, develops, and markets software and portable computerized measurement devices. The SEC’s civil complaint alleged that Meza “authorized bribery payments to employees of Chinese state-owned companies in order to obtain contracts, and that in order to conceal the bribes Meza instructed that account entries be altered.” . . .
Read the entire post on The FCPA Blog www.fcpablog.com
August 28, 2009
The trial of the husband-and-wife movie producers accused of violating the Foreign Corrupt Practices Act opened this week in LA. Gerald Green, 77, and his wife Patricia, 54, have pleaded not guilty to all 22 counts of a second superseding indictment. They’re charged with conspiracy to violate the FCPA and with substantive FCPA offenses. Other charges include money laundering and illegally transporting money-laundering proceeds, obstruction and filing false tax returns. . . .
Read the entire post on The FCPA Blog www.fcpablog.com
August 27, 2009
The following was sent to us by an active-duty officer in the U.S. military:
One of the conceits of the corrupt is that they’ll be able to manage the day of their own reckoning. Lies can be covered with more lies. Blame can be shifted to others. The public will forgive us for our good intentions. . .
Read the entire post on The FCPA Blog www.fcpablog.com
August 26, 2009
It’s not just about corporations anymore. FCPA enforcement is now about individuals too — and in a big way. Here’s this year’s FCPA roll call of real people: Gerald and Patricia Green, whose Foreign Corrupt Practices Act trial opened in LA this week. Frederic Bourke and William Jefferson went on trial in June; both were convicted of conspiracy to violate the FCPA. . . .
Read the entire post on The FCPA Blog www.fcpablog.com
August 25, 2009
From an August 19 AP story: Drugmaker GlaxoSmithKline used a sophisticated ghostwriting program to promote its antidepressant Paxil, allowing doctors to take credit for medical journal articles mainly written by company consultants, according to court documents obtained by the Associated Press. . . .
Read the entire post on The FCPA Blog www.fcpablog.com
August 24, 2009
In late July, the SEC filed a settled enforcement action against Nature’s Sunshine Products Inc. (NSP), its Chief Executive Officer Douglas Faggioli. 54, and its former Chief Financial Officer Craig D. Huff, 53. The charges involved bribes by NSP’s Brazilian subsidiary to customs officials and false accounting to conceal the payments. As we’ve said, the SEC’s complaint alleged that Faggioli and Huff, in their capacities as control persons, violated the books and records and internal controls provisions of the securities laws in connection with the Brazilian bribes. . . .
Read the entire post on The FCPA Blog www.fcpablog.com
August 21, 2009
More on the Greens. In February 2008 we said: “We’re not privy to the Greens’ defense, of course, but they appear to have a tough legal battle ahead of them.” Their trial was postponed this week as it was about to begin. According to the AP, the Justice Department blamed the one-week delay on “the availability of a prosecution witness.” Trial delays aren’t unusual. But could the Greens be trying to work out a plea? . . .
August 20, 2009
Millipore’s announcement last week was unusual. The Massachusetts-based life science firm said in its 10-Q that the SEC won’t bring an enforcement action for potential Foreign Corrupt Practices Act violations the company self-reported in 2006. “By its letter on May 14, 2009,” Millipore said, “the Securities and Exchange Commission notified us that its investigation has been completed and it will not pursue any enforcement action on this matter.” . . .
Read the entire post on The FCPA Blog www.fcpablog.com
August 19, 2009
When they met in July, Presidents Obama and Medvedev not only dressed alike, they created a Bilateral Presidential Commission. They’ll chair it and Secretary of State Clinton and Foreign Minister Lavrov will act as coordinators. Working groups under the commission’s umbrella will include energy, security, environment, arms control, counter-terrorism, cultural exchanges, and — the reason we’re talking about it — business development. That group will be headed by Secretary of Commerce Gary Locke and Minister of Economic Development Elvira Nabiulline. . . .
Read the entire post at The FCPA www.fcpablog.com
August 18, 2009
Husband-and-wife movie producers Gerald and Patricia Green are now on trial in LA for violating the Foreign Corrupt Practices Act. Prosecutors allege they paid more than $1.8 million in bribes to Juthamas Siriwan, a former governor of the Tourism Authority of Thailand, in return for $14 million in contracts to stage the Bangkok Film Festival. They’re also charged with conspiracy, money laundering, obstruction, and filing false tax returns. They could be jailed for life if convicted on all 22 counts. He’s 76, she’s 54. They’re facing up to five years in prison for each FCPA charge, up to 10 years for each tax count, and up to 20 years for the money-laundering and obstruction charges. . . .
Read the entire post on The FCPA Blog www.fcpablog.com
