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Entries in Uzbekistan (24)

Wednesday
Apr052017

Aaron Bornstein: Key Lessons of the BOTA Foundation

In my recent previous posts on the BOTA Foundation, I recapped its history and provided what I think were some of the critical factors which led it to be recognized as the most successful example the United States Department of Justice has had to date in returning recovered corruption assets. But what are the lessons from BOTA that might be applicable to future foundations established for the same purpose?

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Friday
Mar242017

Dutch, U.S. investigate ING for corruption

ING is under criminal investigation by Dutch prosecutors for money laundering and corruption in Uzbekistan, and authorities in the United States have also requested information from the bank.

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Monday
Oct242016

Telia reserves $1.45 billion for U.S., Dutch settlements of Uzbekistan bribes

Sweden's Telia Company said in a quarterly report released Friday that it has recorded a provision of $1.45 billion to settle investigations by U.S. and Dutch authorities of bribery in Uzbekistan.

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Thursday
Sep152016

Telia receives $1.4 billion settlement offer from U.S., Dutch authorities for Uzbekistan bribes

Telia chairman Marie Ehrling image (courtesy of Telia)Sweden's Telia Company said Thursday it received a proposal from U.S. and Dutch authorities to pay $1.4 billion to settle allegations of overseas bribery.

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Wednesday
Sep072016

Report: VimpelCom Russia chief, other execs named in bribe probe

Mikhail Slobodin (Image courtesy of VimpelCom)There's news this morning about a rare Russian investigation into at least three high-profile executives accused of bribery.

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Monday
Apr042016

It's spooky: VimpelCom publishes an FCPA damage report

In its annual report filed with the SEC last week, VimpelCom described the continuing fallout from its February mega-settlement with U.S. and Dutch authorities for bribery offenses in Uzbekistan.

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Thursday
Feb182016

VimpelCom reaches $795 million resolution with U.S., Dutch authorities

Amsterdam-based VimpelCom Limited, the world’s sixth-largest telecommunications company, and its wholly owned Uzbek subsidiary, Unitel LLC, entered into resolutions with the DOJ, SEC, and Dutch authorities Thursday for paying more than $114 million in bribes to a government official in Uzbekistan between 2006 and 2012.

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Thursday
Feb182016

VimpelCom: We're ready to acknowledge FCPA violations and pay penalties

Telecoms company VimpelCom said in an earnings release Wednesday that it has discussed terms of prospective settlements with the SEC, DOJ, and Dutch prosecutors and would would acknowledge "certain violations" of the Foreign Corrupt Practices Act and Dutch laws and pay fines and disgorgements to settle the offenses.

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Tuesday
Nov032015

VimpelCom reserves $900 million for potential resolution of Uzbekistan bribery investigation

Telecoms company VimpelCom said in a statement Tuesday it will take a provision of $900 million for an investigation by U.S. and Dutch authorities of its business in Uzbekistan and dealings with an offshore company linked to the daughter of the Uzbek president.

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Monday
Aug172015

DOJ moves to seize $1 billion linked to Uzbek telecoms scandal

The U.S. Justice Department took another big step in its investigation of bribes allegedly paid by Russian and Swedish companies to the eldest daughter of Uzbek President Islam Karimov in exchange for access to the country's telecoms market.​

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Tuesday
Jul142015

Feds chase $300 million of Karimova loot

Image courtesy of the BBC via YouTubeA federal judge in New York last week said the DOJ can seize $300 million allegedly linked to the telecoms scandal involving "a relative of Uzbekistan's president."

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Friday
Jun262015

How the Uzbek first daughter locked up the local telecoms market (with video)

Journalists from the Organized Crime and Corruption Reporting Project uncovered documents last year appearing to show $300 million in bribes to Gulnara Karimova, the eldest daughter of Uzbek President Islam Karimov, in exchange for access to the country's telecoms market.​

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