Podcasts
What happens when a Chief Executive Officer becomes the architect of a global bribery scheme? In this episode of Corruption, Crime, and Compliance, Michael Volkov delivers an in-depth analysis of the BIT Mining FCPA case — a landmark matter that underscores the severe consequences of C-suite misconduct. With CEO
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Bit Mining, formerly 500.com, was a doomed company from the beginning, When a CEO orchestrates a bribery scheme with the assistance of other senior executives, shareholders and the public have little chance of ensuring a business operating with ethics and integrity. 500.com's future was sealed when
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Earlier this year, Bit Mining and its CEO fell under the FCPA hammer. Bit Mining, formerly known as 500.com, resolved investigations with the Justice Department and the SEC for its corrupt scheme to bribe Japanese government officials. On the same date, DOJ announced the indictment of Zhengming Pan, Bit
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The Justice Department is about to undergo some fundamental changes. The 2nd Trump Administration will take some initial broad strokes designed to increase accountability and control of prosecutors and laws enforcement. The FBI The first on the chopping block is the FBI. Under existing law, the FBI is a component
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As the dust settles on the U.S. Election, companies are quickly analyzing the impact for businesses, federal civil and criminal enforcement priorities and the implications for ethics and compliance. When a new Administration comes into power, change is inevitable and can be far-reaching. Given the change with President
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Teva Pharmaceuticals USA Inc. (Teva USA) and Teva Neuroscience Inc. ("Teva") agreed to pay $450 million to resolve two matters that allege Teva violated the Anti-Kickback Statute (AKS) and the False Claims Act (FCA). Teva is the largest generic drug manufacturer in the United States. The settlement
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TD Banks' complete compliance disaster was reflected in every aspect of TD Bank's business and compliance operations. It is not surprising that TD Bank's deficient BSA and AML compliance program was known by its Board of Directors and senior leadership. TD Bank's priority
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“By making its services convenient for criminals, TD Bank became one,” Attorney General Merrick B. Garland. TD Bank joins the list of dysfunctional companies -- add them to Wells Fargo, Wirecard, Volkswagen, General Motors, Goldman Sachs, and the hall of fame of financial scandals. TD Bank became a criminal organization, its
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The Justice Department has repeated on several occasions that it intends to aggressively prosecute corporations for sanctions and export controls violations. The "New FCPA" is how the Justice Department characterizes its plan. To execute the strategy, DOJ has assigned 25 new prosecutors. This is the most important fact
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Boeing's Plea Agreement includes two Separate Factual Statements -- the January 7, 2021 DPA, which is discussed in a prior blog post, and a factual outline of Boeing's breach of the original DPA, resulting in the current Plea Agreement. The most recent Factual Statement covers Boeing'
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The Boeing 737 MAX case took another dramatic turn. On July 24, 2024, the Department of Justice filed with the United States District Court for the Northern District of Texas a proposed plea agreement with Boeing. The plea agreement, which has been filed under Federal Rule Criminal Procedure 11(c)
Podcasts
In this new era of aggressive sanctions enforcement, companies have to understand the red lines that define where criminal and civil enforcement risk increase. In contrast to the history of FCPA enforcement, DOJ and OFAC have provided helpful guidance to alert companies where risks are likely to increase. Sanctions enforcement