Our extensive knowledge at your fingertips

Latest editions

Search

US DoJ to transfer $52.88m in forfeited assets to Nigeria, citing its support in a Nigerian oil industry corruption probe

January 13, 2025

Of the funds, $50m will go to a renewable energy electrification project managed by the World Bank to expand electricity access in Nigeria, while $2.88m will support counterterrorism and rule-of-law programs through the International Institute for Justice & the Rule of Law, focusing on capacity-building and regional security…

Volkov’s latest podcast examines Telefónica Venezolana’s $85.2m settlement with the DOJ for bribery violations under the FCPA

December 8, 2024

Michael Volkov explains how the Venezuelan subsidiary exploited a government-controlled currency auction system, paid nearly $29 million in bribes, and concealed the payments through inflated equipment purchases. The case reveals systemic flaws and offers essential lessons on preventing corporate misconduct…

SEC charges BIT Mining with FCPA Violations in Connection with Bribery Scheme to Influence Members of Japanese Parliament

November 26, 2024

The SEC’s order finds that the bribery scheme involved illicit payments of approximately $2.5 million in the form of cash bribes, entertainment, and extravagant trips. The order further finds that the bribes were authorized by a 500.com senior executive and that, after the bribery scheme came to light, the company never entered the market.

US DoJ and SEC indicts Gautam Adani, Founder of Adani Group, and several senior executives, for allegedly paying over $250M in bribes to Indian officials to secure solar energy contracts

November 24, 2024

Gautam S. Adani and seven other business executives allegedly bribed the Indian government to finance lucrative contracts designed to benefit their businesses. Adani and other defendants also defrauded investors by raising capital on the basis of false statements about bribery and corruption, while still other defendants allegedly attempted to conceal the bribery conspiracy by obstructing the government’s investigation…

SEC announces enforcement results for fiscal year 2024

November 20, 2024

SEC filed 583 total enforcement actions in fiscal year 2024 while obtaining orders for $8.2 billion in financial remedies, the highest amount in SEC history.

US DoJ orders Telefónica Venezolana to pay over $85m to resolve foreign bribery investigation

November 8, 2024

Follows an investigation by the Justice Department into a scheme to bribe government officials in Venezuela to receive preferential access to U.S. dollars in a currency auction.

SEC issues $12m Award to Joint Whistleblowers, who provided critical information and assistance in an SEC enforcement action

October 12, 2024

The joint whistleblowers provided the SEC significant information and extensive cooperation, which helped expand the scope of the investigation and the charges brought in the enforcement action and also saved the agency substantial time and resources. The joint whistleblowers met numerous times with SEC’s enforcement staff and certain of the joint whistleblowers suffered hardships due to their whistleblowing…

SEC alleges that Cumberland DRW has been operating as an Unregistered Dealer in the Crypto Asset Markets

October 10, 2024

Cumberland has acted as an unregistered dealer by buying and selling crypto assets offered and sold as securities for its own accounts as part of its regular business. As alleged in the complaint, Cumberland publicly calls itself “one of the world’s leading liquidity providers” in crypto assets and operates 24 hours a day, seven days a week by trading with counterparties by the telephone or through its online trading platform, Marea…

SEC charges U.S based Moog Inc. with FCPA violations for subsidiary’s role in Indian bribery scheme

October 9, 2024

SEC announced that Moog Inc., a New York-based global manufacturer of motion controls systems for aerospace, defense, industrial and medical markets, agreed to pay a civil penalty of $1.1 million to resolve the SEC’s charges that it violated the Foreign Corrupt Practices Act (FCPA) arising out of bribes paid by its wholly owned Indian subsidiary, Moog Motion Controls Private Limited (Moog Motion Controls)….

SEC charged executives of Medly Health Inc. with defrauding investors on fake prescriptions and fraudulently inflated revenue

September 9, 2024

The SEC has charged Medly Health Inc.’s and Head of Rx Operations with defrauding investors during a US $170 million fundraising effort. The accused are inflating revenue figures, while Bhatt is alleged to have created fake prescriptions to support these figures. The SEC deems these actions as severe corporate misconduct and reaffirms its focus on preventing deceptive start up fundraising…

US DoJ launches a Corporate Whistleblower Awards Pilot Programme, who awards to uncover crime, effective 1 Aug 2024

August 25, 2024

US DoJ’ s Criminal Division has introduced a Corporate Whistle blower Awards Pilot Program aimed at exposing and prosecuting corporate crime. Whistle blowers providing original and truthful information leading to successful prosecutions with forfeitures may be eligible for a percentage of the forfeited assets. The program focuses on crimes, corruption, and health care fraud involving private insurance plans…

US DoJ convicts Deputy Attorney General for bribing Mexican officials to secure contracts for Vitol Inc. in exchange for assistance in winning business

August 22, 2024

Javier Aguilar, Deputy Attorney General has confessed to bribing foreign officials to secure contracts for Vitol Inc. by using shell companies, fake contracts, and alias email accounts according to the Principal Deputy Assistant Attorney General. Attorney General was convicted last year will face consequences for his role in corrupting the international commodities market, impacting global trust in American businesses…