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The U.S. Department of Commerce's Bureau of Industry and Security ("BIS") recently issued a Final Order against The Indium Corporation of America, citing eleven (11) alleged violations of the Export Administration Regulations ("EAR") between April 14, 2022, and March 31, 2023. The violations
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Despite a relatively slow year in OFAC sanctions enforcement, OFAC closed 2024 with a string of settlements in five cases, including its second in 2024 against an individual defendant. While OFAC had a slow year, DOJ continued to increase its criminal enforcement of sanctions cases against individuals, increasing its prosecutions
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AAR, a provider of aviation products and services, engaged in two separate bribery schemes. State-owned entities and government agencies permeate the aviation industry. As a result, FCPA risks are embedded in direct industry activity and related services and suppliers. The AAR case is a perfect example of just how
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The Justice Department and the SEC finished 2024 with a coordinated resolution of criminal and civil FCPA charges against AAR Corporation, an Illinois-based provider of aviation products and services. In addition, DOJ unsealed a criminal indictment and guilty plea dated August 1, 2024, by Deepak Sharma, CEO of an
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By: Daniela Melendez, Associate at The Volkov Law Group, and Alex Cotoia, Regulatory Compliance Manager. Daniela can be reached at dmelendez@volkovlaw.com and Alex can be reached out at acotoia@volkovlaw.com. In a significant development underscoring the U.S. government’s continued efforts to counter Russia’s destabilizing
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Happy holidays to all our clients, colleagues, family and friends. Our blog, podcasts and webinars will be back on January 6, 2025. We appreciate all the support and look forward to a great year in 2025.
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In a far-reaching criminal case, in November 2024, the Justice Department unsealed a complex, five-count indictment in the Eastern District of New York charging eight defendants, including Gautam S. Adani, Sagar R. Adani and Vneet S. Jaain, executives of the Adani Group, a large Indian renewable-energy company,
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Deja Vu all over again -- Yogi Berra Yogi Berra said it best -- we have seen this scenario before, with similar parties -- corrupt foreign officials from Eskom (and Transnet), local partner requirements resulting in engagement of unqualified businesses, and corrupt third parties who assist the bribery scheme in exchange for a
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The McKinsey FCPA case follows several other significant cases involving South Africa. ABB and SAP resolved FCPA cases involving bribes in South Africa; on the SEC front, Gartner resolved a bribery case involving South Africa. Like these other cases, McKinsey's bribery scheme focused on two important state-owned
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On December 5, 2024, DOJ announced a settlement with McKinsey and Company for $122 million for bribes paid to South African government officials to secure valuable consulting contracts. Between 2012 to 2016, McKinsey Africa, acting through former senior partner Vikas Sagar, who plead guilty in 2022, conspired to pay bribes
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The Department of Justice Antitrust Division's is playing catch up to the Criminal Division on compliance leadership. DOJ's Criminal Division has issued four separate revisions to its Evaluation of Corporate Compliance Programs. This is the Antitrust Division's first revision to its Evaluation of Corporate
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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