US firms paid big time to settle Foreign Corrupt Practices Act investigations last year, the latest sign that bribery enforcement remains hot after all these years of suspect leaders in the DOJ and Whitehouse.
Corporate America paid out an average $157 million to settle FCPA investigations in 2014, a record figure that far surpassed the $80 million they paid on average in 2013, according to law firm Gibson Dunn & Crutcher LLP. We say GREAT NEWS!!!!!
That figure reflects the Justice Department’s $772 million settlement with Alstom SAALO.FR +0.06%, prosecutors’ biggest ever, but also big settlements with Avon Products Inc., Alcoa Inc. and other companies. Some folks just do not get it.
In all, the DOJ brought 17 enforcement actions, down from 19 in 2013. The SEC brought 9, up from 8 in 2013, most through the administrative proceedings that the agency is increasingly using. These figures include cases against individuals. The individual is always at the heart of the matter. In Arizona we had Scott Coles, a Governor and the like of Ken Lay.
While prosecutors are still demanding big money from companies to settle probes, they are increasingly trusting companies to police themselves after a settlement. LOL as my kids say. External compliance monitors were not imposed for the duration of a deferred-prosecution agreement as a part of any bribery settlements last year, according to Gibson Dunn. Instead, many firms were asked to submit their own assessments of compliance progress to prosecutors. If you want to whistle blow or know of a white collar crime, call Bill Miller at 602-319-6899. He has handled parts of three of the largest fraud cases in Arizona history; The Baptist Foundation scam, the NCFE bond fraud case and the Mortgages ltd. professional 3rd party participant case.

Call Bill at 602.319.6899 or stop by for a cup of coffee to discuss your FCPA case at 8170 North 86th Place, suite 208, Scottsdale, AZ 85258.

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