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Notable Cases

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Part of the Contributions to Finance and Accounting book series (CFA)

Abstract

There are a number of cases involving individuals and multinational companies (with a focus on international transactions) that have been pursued by law enforcement organisations in various countries in recent years. Depending on the location of the law enforcement agency concerned, the agency will have certain distinct legal provisions applying to the way in which the agency can conduct the investigation. This applies equally to the prosecution of the misconduct, that may be classified as corrupt or fraudulent by national legislation.

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  • DOI: 10.1007/978-3-030-73916-4_14
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Notes

  1. 1.

    In addition to other proceedings, in November 2019 (fourteen years after a judicial inquiry was first launched) a Greek court found 22 people guilty including the former Siemens Hellas CEO Michalis Christoforakos. The case related to an estimated EUR70 m bribes paid by the German electronics giant and its local subsidiary to clinch a contract with telecom provider OTE, which was owned by the Greek state at the time, see www.greece.greekreporter.com.

  2. 2.

    www.eib.org/en/press/news/eib-and-siemens-settlement-agreement.

  3. 3.

    https://new.siemens.com/global/en/company/sustainability/compliance/collective-action.html.

  4. 4.

    See also other media reports including the FCPA Blog article on March 29, 2016 by Richard Cassin entitled: ‘SFO Charges another individual in Alstom corruption case’.

  5. 5.

    www.worldbank.org/en/news/press-release/2013/04/17/world-bank-debars-snc-lavalin-inc-and-its-affiliates-for-ten-years.

  6. 6.

    See also FCPA Blog article: Compliance dialogue: What happens when an ‘air of innocence’ fills the halls? by Richard Bistrong, dated June 27, 2019.

  7. 7.

    See also FCPA Blog article ‘Former Braskem CEO charged with FCPA and money laundering conspiracies’ by Richard L. Cassin dated November 21, 2019 in which notes that the US DoJ charged: ‘... the former chief executive officer of Braskem S.A. with helping his company and Odebrecht S.A. amass a giant slush fund and use it to bribe officials and political parties in Brazil. Jose Carlos Grubisich, 62, a Brazil citizen, was charged in federal court in Brooklyn, New York. He faces one count of conspiracy to violate the anti-bribery provisions of the Foreign Corrupt Practices Act, one count of conspiracy to violate the FCPA’s books and records provisions and falsely certifying financial reports, and one count of conspiracy to commit international money laundering … Braskem’s controlling shareholder is Odebrecht, a Brazilian construction firm, with nearly 40 percent ownership and just over 50 percent of the voting shares. Brazil’s state energy company, Petroleo Brasileiro S.A. (Petrobras), owns about a third of Braskem … In December 2016, Odebrecht and Braskem pleaded guilty to bribing officials around the world. The companies agreed to pay $3.5 billion for a global settlement with authorities in the United States, Brazil, and Switzerland…’

  8. 8.

    Additional information about the Justice Department’s Fraud Section FCPA enforcement efforts can be found at www.justice.gov/criminal/fraud/fcpa.

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Smith, D. (2021). Notable Cases. In: Promoting Integrity in the Work of International Organisations . Contributions to Finance and Accounting. Springer, Cham. https://doi.org/10.1007/978-3-030-73916-4_14

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