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Contributor: Doug Cornelius 

SUMMARY: Control Components Inc. pleaded guilty to violating the anti-bribery provisions of the Foreign Corrupt Practices Act and the Travel Act, admitting to bribing foreign officials in a decade-long scheme.

As part of the plea agreement, Control Components agreed to pay a criminal fine of $18.2 million; create, implement and maintain a comprehensive anti-bribery compliance program; retain an independent compliance monitor for a three-year period to review the design and implementation of Control Components’ anti-bribery compliance program and to make periodic reports to CCI and the Department of Justice; serve a three-year term of organizational probation; and continue to cooperate with the Department of Justice in its ongoing investigation.

Mario Covino was CCI’s former director of worldwide factory sales. He pleaded guilty to one count of conspiracy to violate the FCPA and admitted to causing the payment of $1 million in bribes to officers and employees of several foreign state-owned companies.

DOCUMENT INFO

RELATED DOCUMENTS BY DOUG CORNELIUS

• Other:
  Information filing in US v. Control Components, Inc.
• Other:
  Plea Agreement in US v. Control Components, Inc.

• Other:
  Indictment in US v. Carson, Cosgrove, Edmonds, Ricotti, Kim
• Other:
  Plea Agreement in US v. Morlok

Doug Cornelius Doug is the Chief Compliance Officer for a real estate private equity firm, focusing... [Profile | Documents]

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