Defense and government contracting company IAP Worldwide Services will pay a $7.1 million penalty and entered into a non-prosecution agreement with the Department of Justice to end a government investigation into whether the company bribed Kuwaiti officials to secure a government contract.  James Michael Rama, a former vice president...

The Department of Justice (DOJ) filed a complaint today seeking the civil forfeiture of approximately $34 million, which represents the cash value of shares in Griffiths Energy International, a Canadian energy company that the company used to bribe Chad's former Ambassador to the United States and Canada for the purpose of influencing...

Five global banks, UBS, JP Morgan, Barclay's, RBS and Citigroup have agreed to pay $5.7 billion in penalties and will plead guilty to criminal charges resolving a U.S. investigation of traders at the banks colluding to rig foreign currency rates in to benefit themselves. Authorities said euro dollar traders at the banks, communicated through...

Several of Wall Street's largest banks are the target of major Securities and Exchange Commission (SEC) investigations for violations of foreign bribery laws, according to the Wall Street Journal. The banks include J.P. Morgan Chase & Co. Citigroup Inc, Credit Suisse Group AG, Goldman Sachs, Morgan Stanley and UBS AG. The issues relate to...

A former top executive at Volkswagen China was sentenced to life in prison for accepting $42 million in bribes, state media reported. Shi Tao, former deputy general manager of FAW-Volkswagen Sales Co, was convicted for taking 33 million yuan (H$42 million ) in bribes, the state-owned Shanghai Daily reported. Shi helped advertisers and car dealers...

According to the Wall Street Journal, beer maker Anheuser-Bush InBevΠexited a joint venture in India that was under scrutiny in the U.S. for potential violations of foreign bribery law. In a securities filing the company said it ended ties in February with a joint venture in India that is the subject of a U.S....

Bank of New York Mellon Corp. has agreed to pay $714 million to resolve the federal and state governments' cases, certain private cases that arose as a result of the same fraud, and investigations by the Securities and Exchange Commission and the U.S. Department of Labor. According to the Government, BNYM and its executives,...

Commerzbank AG has agreed to pay $1.45 billion to settle sanctions actions for doing business with Iran, Sudan and its failure to have adequate money laundering controls, the DOJ and New York financial regulator said Thursday. The bank "concealed hundreds of millions of dollars in transactions prohibited by U.S....

Goodyear Tire & Rubber Co. has paid $16 million to settle charges by the U.S. Securities and Exchange Commission that it violated the Foreign Corrupt Practices Act, when its subsidiaries paid bribes to land tire sales in Kenya and Angola. The SEC said Goodyear failed to prevent or detect...