It’s a scenario that FCPA practitioners see all too regularly. A due diligence report regarding an intermediary reveals that it’s organized not in its home jurisdiction, but in Cyprus. Or Guernsey. Or Panama.
Entries in Guersney (3)
The former owner and president of a Pennsylvania consulting business pleaded guilty Wednesday to violating the Foreign Corrupt Practices by bribing an official at the European Bank for Reconstruction and Development.
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.