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5/11/2009
What is it With German Companies and Bribery?
5/10/2009
Snag in the Oracle Talks to Acquire Sun Microsystems
British Rail Chief Under Investigation Found Dead
Frontline: Black Money
Exploring Corporate Liability for Foreign Bribery 3/19/2009
Shell Bribery Probe Continues
Frontline Production on Corporate Bribery
Siemens Signs off on Billions in Fines
Haliburton Bribery Investigation Continues
Global Anti-Bribery Regime Begins to Take Shape
When Bribery Isn't Bribery
Siemens and the SEC Close to a Deal? 7/25/2008
Former Siemens Top Brass Denies Wrongdoing, Post Schaefer Testimony
-- MDT
7/23/2008
Siemens Plans to Loose the Legal Hounds on Former Managers Implicated in Bribery Scandal
Former Anti-Corruption Chief Testifies in Siemens Bribery Trial, Results Ugly For Siemens Management
Samsung Boss Avoids Jail Time, Faces Steep Fine
Prosecutors Finger Siemens Board Member in Union Bribes
Bribery Convictions for Two Former Siemens Managers
Dickie Scruggs Gets Five Years, Forced to Pay for Own Incarceration
Transparency International Shames Countries Soft on Corporate Bribery Prosecution
What is it With German Companies and Bribery?
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Snag in the Oracle Talks to Acquire Sun Microsystems
That Sun make have broken anti-bribery laws in an undisclosed jurisdiction outside the U.S. Sun made the disclosure in a recent Federal filing and is cooperating with the DOJ and SEC on matter.
-- MDT
4/16/2009
-- MDT
Labels: bribery, Oracle, Sun Microsystems
British Rail Chief Under Investigation Found Dead
Given the epic level of shameless corruption and greed we've seen exposed state-side in the last few months a story like this is all the more hard to process. In the UK a husband and wife commit suicide together, rather than face the outcome of an ongoing bribery investigation. Tragic, unbelievable. All over a few trinkets - cars watches, etc. - not even close to the billions we've seen people like Dreier, Stanford and Madoff piss through.
-- MDT
4/09/2009
-- MDT
Labels: Anthony Burgess, bribery
Frontline: Black Money
Mentioned this PBS report on international bribery to you back in February. The full program is now available online.
Well worth your time.
- MDT
4/01/2009
Well worth your time.
- MDT
Exploring Corporate Liability for Foreign Bribery 3/19/2009
Shell Bribery Probe Continues
A little of that FCPA action we've been talking about. The U.S. government's investigation goes (involving both the SEC and DOJ) back to 2007 and concerns allegations that reps of Royal Dutch Shell paid bribes to Nigerian customs agents, possibly through Swiss freight forwarding firm Panalpina. The SEC is investigating ten other firms that used Panalpina on suspicion of similar illegal payments. Shell has been running its own internal investigation alongside the U.S. Government probe.
-- MDT
2/20/2009
-- MDT
Labels: bribery, FCPA, Royal Dutch Shell
Frontline Production on Corporate Bribery
Typical great work from PBS's Frontline program. The full report will broadcast in April, but you can check out clips online right now, right here.
-- MDT
12/15/2008
-- MDT
Siemens Signs off on Billions in Fines
Looking to close the book on the massive bribery investigation, Siemens settles for big bucks on lesser charges.
-- MDT
10/01/2008
-- MDT
Labels: bribery, settlement, Siemens
Haliburton Bribery Investigation Continues
Harpers brings you up to date on the story, including details on the recent guilty plea of a former Haliburton executive, Albert “Jack” Stanley, who last week copped to bribing Nigerian officials.
-- MDT
9/15/2008
-- MDT
Labels: bribery, Haliburton, Nigeria
Global Anti-Bribery Regime Begins to Take Shape
Finally getting serious about enforcing OFAC in the U.S. Not letting corporations write of their bribes as tax deductions in Europe - it's a whole new world out there!
-- MDT
9/01/2008
-- MDT
When Bribery Isn't Bribery
That would be in Germany prior to 2002... And thanks to that Siemens has seen a €38 million fine overturned and a few bribery convictions along with it.
-- MDT
8/20/2008
-- MDT
Labels: bribery, overturned, Siemens
Siemens and the SEC Close to a Deal? 7/25/2008
Former Siemens Top Brass Denies Wrongdoing, Post Schaefer Testimony
I know you're shocked, right?
Meanwhile, legal action against their former managers and executives is expected to be filed by Siemens next Tuesday.
Meanwhile, legal action against their former managers and executives is expected to be filed by Siemens next Tuesday.
-- MDT
Labels: Albrecht Schaefer, bribery, Heinz-Joachim Neubürger, Siemens
Siemens Plans to Loose the Legal Hounds on Former Managers Implicated in Bribery Scandal
This had been intimated by the Siemens brass for some time, but now things are starting to get official, as the company has announced its intent to file suit against 10 former board members, as well as the former chairman and chief executive.
- MDT
7/22/2008
- MDT
Former Anti-Corruption Chief Testifies in Siemens Bribery Trial, Results Ugly For Siemens Management
Surprising virtually no one, former Siemens anti-corruption official, Albrecht Schaefer indicated in his recent testimony that the company's top brass ignored the bribery that was happening right under their noses.
Moreover, Schaefer stated flatly that he personally informed several familiar names (Heinz-Joachim Neubuerger, Juergen Radomski, and Thomas Ganswindt) about the dubious practices he had observed.
-- MDT
7/16/2008
Moreover, Schaefer stated flatly that he personally informed several familiar names (Heinz-Joachim Neubuerger, Juergen Radomski, and Thomas Ganswindt) about the dubious practices he had observed.
-- MDT
Labels: Albrecht Schaefer, bribery, Heinz-Joachim Neubürger, Juergen Radomski, Siemens, Thomas Ganswindt
Samsung Boss Avoids Jail Time, Faces Steep Fine
Lee Kun-Hee has avoided prison with a three year suspended sentence on tax evasion charges. He will, however, be forced to pay a more than $100 million fine. That hurts, no doubt, but he'll hardly miss it out of his $4.9 billion dollar net work.
The final numbers are quite a step down from the seven years behind bars and $400 million fine prosecutors had been aiming for. While it was suspected that Lee's had been using the extra cash for political bribes, prosecutors were never quite able to make the case.
On the other hand... Lee's sentence sure makes it look like this guy got the shaft. Nine years in prison? It just goes to show - if you're going to steal money, its always better to steal a whole hell of a lot of it. And be, like, really important.
That helps too.
-- MDT
7/07/2008
The final numbers are quite a step down from the seven years behind bars and $400 million fine prosecutors had been aiming for. While it was suspected that Lee's had been using the extra cash for political bribes, prosecutors were never quite able to make the case.
On the other hand... Lee's sentence sure makes it look like this guy got the shaft. Nine years in prison? It just goes to show - if you're going to steal money, its always better to steal a whole hell of a lot of it. And be, like, really important.
That helps too.
-- MDT
Labels: bribery, Lee Kun Hee, Samsung, tax evasion
Prosecutors Finger Siemens Board Member in Union Bribes
Former Siemens executive board member, Johannes Feldmayer allegedly authorized more than $48 million in the service of bettering union relations.
That would do it, I imagine.
The German government, however, has taken a dim view of this action.
Both Feldmayer and AUB union boss, Wilhelm Schelsky have been charged in the Siemens bribery probe on fraud, tax evasion and beach of trust grounds.
Schelsky, for his part, has a back-log of other legal problems to boot.
More on Feldmayer and Schelsky via Blooomberg.
-- MDT
6/30/2008
That would do it, I imagine.
The German government, however, has taken a dim view of this action.
Both Feldmayer and AUB union boss, Wilhelm Schelsky have been charged in the Siemens bribery probe on fraud, tax evasion and beach of trust grounds.
Schelsky, for his part, has a back-log of other legal problems to boot.
More on Feldmayer and Schelsky via Blooomberg.
-- MDT
Labels: bribery, Johannes Feldmayer, Siemens, Wilhelm Schelsky
Bribery Convictions for Two Former Siemens Managers
Via the New York Times:
A seeming multitude of much more sprawling investigations are continuing into the company's business practices and no one is seeing bottom just yet.
-- MDT
6/29/2008
Andreas Kley, a former finance chief at Siemens’s power-generation unit, and Horst Vigener, a consultant — were convicted of paying about 6 million euros in bribes from 1999 to 2002 to help Siemens win gas-turbine supply contracts with Enel, an Italian energy company. The contracts were valued at approximately 450 million euros ($609 million).Along with the two convictions, Siemens itself has been ordered to pay $50 million in fines. Siemens has cried foul and has stated their plans to appeal the rulings.
A seeming multitude of much more sprawling investigations are continuing into the company's business practices and no one is seeing bottom just yet.
-- MDT
Labels: Andreas Kley, bribery, Horst Vigener, Siemens
Dickie Scruggs Gets Five Years, Forced to Pay for Own Incarceration
This would be the maximum jail time Scruggs might have faced for his recent conviction on charges related to the attempted bribery of a Mississippi judge. Scruggs will also have to pay a $25o,000 fine, which will pay for the cost of his incarceration. Scrugg's son Zachary also plead guilty in the matter, with sentencing scheduled for Wednesday of this week. See the NYT for more on the Dickie Scruggs sentencing.
-- MDT
6/24/2008
-- MDT
Labels: bribery, Dickie Scruggs
Transparency International Shames Countries Soft on Corporate Bribery Prosecution
Read a brief UK-centric recap here or check out the full report at the Transparency website.
-- MDT
-- MDT
Labels: BAE, bribery, prosecution, Siemens
