Foreign bribes made by U.S. companies to foreign officials or their relatives to get business is a major focus of prosecutions by the Department of Justice"Ʈincluding bribes to Russian and Chinese officials. Prosecutions also include foreign corporations trading on a U.S. stock exchange. The penalties are getting larger and more cases are being generated...
Continue reading…
Category: Foreign Fraud
What major corporations paid out millions to settle government cases alleging major Russian bribes?
There is a constant drumbeat of daily news about Russia and investigations of possible collusion to fix the election. Also, following the release of the "Panama Papers" stories about Russian corruption and offshore moneys leading Ā to friends of Vladimir Putin added to the fuel of interest in the Russian way of business. As...
Continue reading…
Mount Sunapee lease holder Och-Ziff pays $413 million to settle foreign bribes concerning African diamonds and mining rights
NEW HAMPSHIRE WHISTLEBLOWER NEWS
The lease to operate the state-owned ski resort at Mount Sunapee, Och ziff has agreed to pay $413 million to resolve a case involving foreign bribes. The company agreed to pay a criminal penalty of $213 million to the Justice Department and $199 million to the Securities and Exchange Commission.The U.S....
Continue reading…
Panama Papers still revealing on Sergei Roldugin and the secrets of Putin wealth
Sergei Pavlovich Roldugin, born on September 28, 1951, is a Russian cellist and businessman, whose name will be well known to history. Aside from winning awards in the 1980's as a cellist, he later held a professorship at the Saint Petersburg Conservatory from 2002-2005. Then, he shifted his focus to become an oil and...
Continue reading…
Increasing bribes of foreign officials by U.S. companies to get business key focus of DOJ and SEC prosecutions
There has been a significant increase in the number and amount of bribes of foreign officials and their families by American businesses and their subsidiaries to get new business in other countries. Part of the reason may be tied to a decrease in US and Western European military spending so companies are relying on...
Continue reading…
U.S. Commerce Dept. probes security risk of spiked imports of aluminum from China
The U.S. Commerce Department has launched an investigation to see whether a flood of aluminum imports from China and elsewhere was compromising U.S. national security.
The U.S. investigation seeks to understand the rising tide of aluminum imports. The Commerce Department is investigating allegations that Chinese companies are dumping aluminum foil into the U.S. market below...
Continue reading…
Government of Bermuda sues Lahey for racketeering and bribes
The Government of Bermuda has filed a lawsuit against Lahey Clinic asserting that the Lahey and the former Premier of Bermuda, Dr. Ewart Brown created scheme to assure that Lahey would become the healthcare provider of choice for Bermudians. In a Complaint filed in the Federal District Court in Boston this week,...
Continue reading…
$90 Billion in tax revenue lost to offshore tax havens–time to close the loopholes!
Many of America's largest companies create and maintain subsidiaries in offshore tax havens. This allows them to avoid paying an estimated $90 billion in federal taxes each year, according to a report by Citizens for Tax Justice and the IRS. Depending on how these subsidiaries are set up, they may or may not meet...
Continue reading…
Teva Pharmaceutical must pay over $520 million for making bribes in Russia, Ukraine and Mexico
Teva Pharmaceutical Industries Ltd. (Teva), the world's largest manufacturer of generic pharmaceutical products, and its wholly-owned Russian subsidiary, Teva LLC (Teva Russia), agreed to resolve criminal charges and to pay a criminal penalty of more than $283 million in connection with schemes involving the bribery of government officials in Russia, Ukraine and Mexico in...
Continue reading…
CHINA MAY BE ROUTING BILLIONS IN GOODS THROUGH MEXICO EVADING TARIFFS UNDER NAFTA
There is an important investigative article in today's Wall Street Journal involving a Chinese billionaire aluminum mogul, Liu Zhongtian who allegedly evaded US tariffs by routing billions in aluminum by routing it through a plant in a remote section of Mexico. The article is troubling on many fronts, not only because of the fact...
Continue reading…
