Entries in Alcoa (46)
Parental controls: Anti-corruption compliance programs for joint ventures, subsidiaries and franchisees (Part 8)
Over the course of the prior posts in this series, we examined various approaches to what we call "parental controls," meaning compliance measures aimed at joint ventures and other affiliated entities that a company might employ. In this final post, we will review a few FCPA prosecutions to issue a note of caution.
Lawyers for billionaire Victor Dahdaleh from Washington, D.C. litigation powerhouse Williams & Connolly have struck back at Bahrain's Alba and its American attorneys.
Munich-based Siemens, the focus of an ongoing bribery probe in Brazil, is questioning if a new anti-corruption law that will take effect in Brazil on January 28 will work as intended. The company says the law could actually encourage graft among the very persons charged with enforcing it.
As part of its $354 million settlement this week, Alcoa agreed to pay the third biggest disgorgement in FCPA history -- $161 million.
Thursday's $384 million enforcement action against Alcoa and one of its subsidiaries ranks 5th on our list of the Top Ten FCPA cases of all time.
A unit of Alcoa agreed to plead guilty Thursday in the Western District of Pennsylvania to one count of violating the anti-bribery provisions of the FCPA with a 2004 corrupt transaction. Alcoa World Alumina LLC, a majority-owned subsidiary, will pay a criminal fine of $209 million and forfeit $14 million to settle the DOJ’s charges. Alcoa Inc., the corporate parent, also agreed to resolve civil charges brought by the Securities and Exchange Commission by disgorging $161 million.
The London trial of former Alcoa super-agent Victor Dahdaleh ended Tuesday in a complete acquittal after two witnesses from a U.S. law firm involved in the investigation refused to testify and another witness changed his evidence, dealing a huge blow to the already embattled U.K. Serious Fraud Office.