Difference between revisions of "Foreign bribery and FCPA violations"

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|Rolls Royce
|Rolls Royce
|[$809 Million]
|[https://www.justice.gov/opa/pr/rolls-royce-plc-agrees-pay-170-million-criminal-penalty-resolve-foreign-corrupt-practices-act $809 Million]
|German company Siemens made illicit payments to foreign government officials in numerous countries in exchange for favorable business treatment during bidding processes. It also “engaged in systematic efforts to falsify its corporate books and records and knowingly failed to implement and circumvent existing internal controls.” Bribery by Siemens AG included: in Iraq, four Siemens subsidiaries paid Iraqi government officials $1.7 billion to win 42 contracts as part of the UN Oil-For-Food Program; in Bangladesh, over $5 million in payments were made to officials during a mobile telephone project; in Argentina, over $31 million in payments were made to officials during a national ID card project; in Venezuela, over $18 million in payments were made during two mass transit projects.
|On January 16, 2017, Rolls-Royce agreed to pay $809 million to the DOJ to settle allegations of a long-running scheme to bribe government officials in exchange for government contracts. The settlement proceeds were split between the UK, the United States, and Brazil. The Department of Justice reported that it received nearly $170 million. Read more [https://www.bbc.com/news/business-41911961 here].
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|Siemens AG
|Siemens AG