Welcome to Dorsey & Whitney’s monthly Anti-Corruption Digest. In this digest, we draw together news of enforcement activity throughout the world and aim to reduce your information overload. Our London, Minneapolis, New York and Washington DC offices edit the digest and select the most important material so that you can use this digest as a single source of information.
In this edition, among the many topics discussed, we report on updates regarding the U.S. investigation into allegations of corruption at Petrobras; the arrest of two individuals following an investigation by the DoJ regarding a corrupt scheme to secure energy contracts from a state owned oil company in Venezuela; the sentencing of a former regional director of SAP International Inc. for bribing officials in Panama to win government technology contracts; and the four year sentence handed down to a former director of a Russian nuclear energy firm for taking $2 million in bribes to award uranium transportation contracts to a U.S. company.
Updates from the UK include a report on the SFO’s request for $30.5 million in ‘blockbuster funding’ to supplement its budget for significant investigations and the settlement of material liabilities; the Court of Appeal’s decision to uphold the conviction of Tom Hayes, a former trader who was found guilty of conspiring to fix the rate of LIBOR; Smith and Ouzman Ltd being ordered to pay a total of $3.2 million having been found guilty of corruption under the Prevention of Corruption Act 1906 for making payments to officials in Kenya and Mauritania in return for contracts to produce ballot papers.
Global reports include news that China has restated its intent to root out corruption in a speech by the Secretary of the Central Commission for Discipline Inspection; the sentencing of an Indonesian lawyer to over five years in prison having been found guilty of bribing a clerk and three judges; updates of the ongoing corruption matter regarding FIFA, the governing body of world soccer; the arrest of 80 individuals in Serbia, said to include the former head of the anti-corruption agency and ex-governmental officials, for corruption; plus anti-corruption developments in Greece, South Korea and more from around the globe.
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Corruption issues are also addressed in the Anti-Fraud Network’s newsletters: see http://www.antifraudnetwork.com for current and archived material; see also the Computer Fraud website at http://computerfraud.us and SEC Actions at http://www.secactions.com.
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