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SEC Charges EB-5 Fund Operators and Finders

The Securities and Exchange Commission (the “Commission” or “SEC”) has become increasingly active in enforcing alleged violations of U.S. securities laws arising under the EB-5 Immigrant Investor visa program. EB-5...more

Bridging the Week - July 2015 #2

Alleged Fictitious Sales to Facilitate Improper Money Pass Prompts CFTC Injunctive Action and Asset Freeze: The Commodity Futures Trading Commission filed a lawsuit in a federal court in Illinois against Yumin Li and Kering...more

Africa Update - July 2015 #2

In This Issue: - Leading the News - United States – Africa Relations - North Africa - East Africa - West Africa - Sub-Saharan Africa - General Africa News - Excerpt from Leading the...more

June FCPA Compliance Digest | BONUS: Global Anti-Corruption and Anti-Money Laundering News

I love writing articles where I get to discuss companies making history. PetroTiger has been exonerated from criminal FCPA prosecution by the DOJ. That’s only happened once before, in the case of Morgan Stanley....more

FCPA Compliance and Ethics Report-Episode 176-Tim Treanor on the PetroTiger Declination [Video]

In this episode, I visit with Tim Treanor, a partner at SidleyAustin. He was lead counsel for PetroTiger in its FCPA investigation. Tim talks about his investigation protocol and the arguments which led the DOJ to grant a...more

Red Notice Newsletter - June 2015

This month on the anticorruption front, an energy company announces the U.S. Department of Justice (DOJ) has declined to bring charges following an Foreign Corrupt Practices Act (FCPA)-related investigation, the protracted...more

Mifune Gets a Star on the Walk of Fame-the Petrobras Scandal Only Gets Worse

(...) I had always thought that the Hollywood Walk of Fame honors actors but it turns out that it honors a great many more performers. For instance, next year will also see names like LL Cool J, Cyndi Lauper, Shirley Caesar,...more

Corporate Investigations & White Collar Defense - June 2015

The Unfolding FIFA Scandal: Will the DOJ Show the Banks a Red Card? - Why it matters: The worldwide soccer community has for years decried the brazen corruption that permeated FIFA, international soccer’s governing...more

Alleged Ringleader of Global Cybercrimes Extradited to United States to Face Charges

Today, the DOJ unsealed an eighteen-count indictment in Brooklyn, New York charging a Turkish citizen (Defendant) with organizing worldwide cyberattacks against at least three U.S. payment processors’ computer networks. The...more

FIFA Investigation Updates: Plea Agreement with American FIFA Official Unsealed

On June 15, the U.S. District Court for the Southern District of New York unsealed a 2013 plea agreement under which American FIFA Executive Committee Member Chuck Blazer secretly pleaded guilty to ten charges related to...more

DOJ Reaches Agreement with Government Contracting Company and Former VP over Alleged Bribery

On June 16, the DOJ entered into a non-prosecution agreement with a Florida-based defense and government contracting company to resolve allegations that it conspired to bribe Kuwaiti officials for the purpose of securing a...more

Foreign Corrupt Practice Act Update

Recent criminal indictments of FIFA officials should remind businesses to review their obligations under the Foreign Corrupt Practices Act (FCPA). Those who violate the FCPA can face civil and criminal penalties, including...more

Treasury Department Issues Comprehensive Assessment of US Money Laundering and Terrorist Financing Risk

For the first time in a decade, the Treasury Department has released its own anti–money laundering (AML) and terrorist financing Risk Assessments, which may both set a strategic framework for future AML regulatory...more

The War of 1812 and the IAP Worldwide Services Non-Prosecution Agreement

On this day, 203 years ago, President James Madison signed a Declaration of War against Great Britain inaugurating the War of 1812. The cause of the war was multi-faceted; the formal reason given was the British impressment...more

Like a Rolling Stone and Charitable Donations Under the FCPA

Today we celebrate one of the seminal achievements in rock and roll for it was on this day, 50 years ago, in 1965 that Bob Dylan recorded his single Like a Rolling Stone. Columbia Records executives initially rejected the...more

New EU Rules on Disclosure of Ultimate Beneficial Owners

On June 5, new EU’s anti-money laundering (AML) rules, namely the Fourth EU Anti-Money Laundering Directive (“4AMLD”) and a new Regulation on the information accompanying transfer of funds were published in the Official...more

Culture of Corruption in the Financial Industry: A Closer Look

A closer look at new research data about corruption in the financial industry: is the industry as far behind on organizational culture as it might seem?  A recent study, “The Street, The Bull and The Crisis: A Survey of...more

FIFA and BHP Billiton: The Unique FCPA Challenges Present in International Sports

Recent enforcement actions by the Department of Justice and Securities and Exchange Commission have raised the profile of corruption in international sport and highlight unique FCPA compliance concerns. This note will explain...more

INTERPOL suspends FIFA donation funds, but what happens to the money now, and what happens to INTERPOL?

Last week, I addressed INTERPOL’s listing of several individuals who are wanted for prosecution by the United States for FIFA-related financial crimes. That post is here. In light of those listings, RNLJ requested...more

Why Should Americans Care About the FIFA Indictments? Part IV – Corruption is a Global Scourge

Today, I conclude my four-part series on the above question posed to me recently by a colleague. In Part I, I responded that only the US government had the wherewithal and will to do so and that it continued the...more

FIFA and INTERPOL, together again- U.S. charges FIFA officials and obtains Red Notices against them

Unless you’ve been living under a rock, you probably know that FIFA has been dealing with a scandal lately: the U.S. government has charged multiple individuals with ties to FIFA with expansive criminal violations, and...more

Two More Swiss Banks Reach Resolutions with U.S. Government

Today the Justice Department announced that Société Générale Private Banking (Suisse) SA (SGPB-Suisse) and Berner Kantonalbank AG (BEKB), have reached resolutions under the department’s Swiss Bank Program. With today’s...more

FIFA Investigation Updates: President Resigns Amidst Corruption Probe; Interpol Issues Red Notices For Six

On June 2, continuing the fallout from the racketeering, wire fraud, and money laundering indictments announced last week by DOJ against soccer executives at FIFA and others tied to the organization, FIFA President Sepp...more

Two More Banks Reach Resolutions Under Justice Department’s Swiss Bank Program

On June 3, 2015, the Justice Department announced that two more Swiss banks, Rothschild Bank AG and Banca Credinvest SA, reached resolutions under the DOJ Swiss Bank Program. Yesterday’s announcement brings the total Swiss...more

FinCrimes Update - May 2015 Supplement

FEDERAL RESERVE ORDERS TWO FINANCIAL INSTITUTIONS TO IMPROVE BSA/AML COMPLIANCE PROGRAMS - On June 1, a Boston-based international financial services holding company and its banking subsidiary agreed to improve...more

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