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Criminal Prosecution Goldman Sachs

The Volkov Law Group

Roger Ng, Former Goldman Sachs Banker, Sentenced to 10 Years’ Imprisonment For Role in 1MDB FCPA Scandal

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The end of the road for Roger Ng, the Goldman Sachs Investment Banker, who played a critical role in the Goldman Sachs 1 MDB Malaysia scandal, was not a pretty one.  District Judge Margo Brodie gave Ng a severe sentence of...more

The Volkov Law Group

The Ins and Outs of the Ghana Bribery Scheme (Part II of II)

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Each FCPA case provides valuable lessons in the mechanics of bribery schemes and the common techniques used by violators to secure funds and make illegal payments to foreign government officials.  Criminal violators often act...more

The Volkov Law Group

Goldman Sachs Official Indicted Over Ghana Bribery Scheme (Part I of II)

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Talk about a reminder of the past, Asante Berko, a former Executive Director in Goldman Sachs, recently was arrested in London on criminal FCPA charges arising from his involvement in a bribery scheme in Ghana....more

Guidepost Solutions LLC

Guidepost in Motion EP24: State of Compliance with Alixandra Smith Part 1

Eric T. Young welcomes Alixandra Smith, a deputy chief of the Criminal Division at the U.S. Attorney’s Office for the Eastern District of New York. The two discuss the Department of Justice’s renewed approach about corporate...more

The Volkov Law Group

DOJ’s Big Case Victories and Misguided Targets (Part II of III)

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On the top of its record of success, DOJ won two big and highly-contested cases.  The first against Elizabeth Holmes and the second against Roger Ng.  In perhaps one of its most significant failures, DOJ was handed a quick...more

The Volkov Law Group

1 MDB Corruption Scandal Ripples with Superseding Indictment of Jho Low and Former Rapper “Pras’ Michael for Back-Channel Attempt...

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The scandal emanating from the 1 Malaysia Development Berhad fund (1MDB) continues to ripple through criminal law enforcement and criminal prosecutions. ...more

Robins Kaplan LLP

Financial Daily Dose 5.5.2021 | Top Story: Yellen’s Interest Rate Comments Roil Markets, Prompt Clarification

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Treasury Secretary Yellen perhaps inadvertently dipped back into Fed Chair mode for a bit on Tuesday, acknowledging that some movement in interest rates may be necessary to “keep the economy from overheating given the large...more

The Volkov Law Group

The “Person” of the Year: Goldman Sachs

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Bear with me for a second, but remember Presidential Candidate Romney’s statement in 2011 that “Corporations are people.” Starting with that premise, my so-called “Person” of the Year award for 2020 goes to, drumroll . . ....more

The Volkov Law Group

2021 FCPA Predictions (Part IV of IV)

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Well, it is that time again.  I get to put on my Carnac the Magnificent Hat and offer my FCPA predictions for 2021. I should get a pass on my 2020 FCPA Predictions posting because no one could have anticipated the COVID-19...more

The Volkov Law Group

Goldman Sachs and the Economic Impact of Corruption

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The breadth of Goldman Sachs’ corruption in the recent DOJ and SEC FCPA enforcement action underscored the important global goal of reducing corruption.  It goes without saying – corruption has a pernicious impact on economic...more

Society of Corporate Compliance and Ethics...

Goldman Sachs settles investigation into 1MDB scandal with USD 2.8 billion payment

Report on Supply Chain Compliance 3, no. 21 (October 29, 2020) - Goldman Sachs has agreed to pay a penalty of USD 2.2 billion for its role in the robbing of 1Malaysia Development Berhad (1MDB), a Malaysian development...more

The Volkov Law Group

Goldman Sachs’ Lucrative and Wide-Ranging Corrupt Scheme (Part II of III)

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Goldman Sachs now sits atop all charts with the largest US FCPA bribery penalty, totaling approximately $2.9 billion.  The second largest is Ericsson’s 2019 FCPA settlement for $1 billion....more

The Volkov Law Group

Goldman Sachs Settles Massive 1MDB Bribery Case and Agrees to Pay Nearly $3 Billion (Part I of III)

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The Justice Department finally closed out its investigation of Goldman Sachs’ massive bribery scheme involving Malaysia’s 1MDB fund.  The case is now the largest in US FCPA history (based on its payment to DOJ and related US...more

The Volkov Law Group

RNC Deputy Finance Chair Elliott Broidy to Plead Guilty to Foreign Agent Registration Act Conspiracy

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The former deputy finance chair of the Republican National Committee and prominent fundraiser for President Trump has agreed to plead guilty with lobbying on behalf of Jho Low, an indicted and fugitive financier, who was...more

Robins Kaplan LLP

Financial Daily Dose 8.12.2020 | Top Story: 9th Circuit Reversed Antitrust Ruling Against Qualcomm

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Big win for Qualcomm this week, with a 9th Circuit panel reversing an antitrust verdict against the company that “had threatened the chip maker’s business model.” The appellate court, in flipping the district court’s ruling,...more

Society of Corporate Compliance and Ethics...

1MDB scandal ringleader found to have ties to Kuwaiti sheikh

Report on Supply Chain Compliance 3, no. 13 (June 25, 2020) - Jho Low, the alleged mastermind behind the looting of Malaysia’s sovereign wealth fund, 1Malaysia Development Berhad, has been using his connections to Kuwaiti...more

Robins Kaplan LLP

Financial Daily Dose 1.24.2020 | Top Story: OCC Hits Former Wells Fargo Execs With Enforcement Actions Over Sham-account Scandal

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The OCC announced yesterday that it’s bringing enforcement actions against five former Wells Fargo bank executives as part of their alleged roles in the bank’s sales practices scandal. The agency further revealed that it’s...more

The Volkov Law Group

FCPA Predictions for 2020 (Part III of III)

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It is time to break out the crystal ball for FCPA 2020 Predictions.  In preparing for this, I always rely on my past admiration of Carnac the Magnificent....more

Robins Kaplan LLP

Financial Daily Dose 12.20.2019 | Goldman nearing $2B deal with DOJ to resolve 1MDB scandal claims

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Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s...more

Thomas Fox - Compliance Evangelist

Frosty the Snowman, the Eyes of Dr. Eckleburg and Leissner – Lessons Learned

I thought Frosty was a good analogy to consider the disgraced Goldman Sachs Group Inc.’s former partner Tim Leissner, as he is certainly back again. Yesterday, I begin a two-part blog post series on Leissner’s settlement with...more

Society of Corporate Compliance and Ethics...

Malaysian authorities widen investigation into Goldman Sachs

CEP Magazine (November 2019) - Malaysian Attorney General Tommy Thomas filed criminal charges against an additional 17 employees of Goldman Sachs in connection with the 1Malaysia Development Berhad (1MDB) scandal....more

Thomas Fox - Compliance Evangelist

Congrats to the Nats and the Jho Low Forfeiture Agreement

As reported by Byron Tau and Aruna Viswanatha in the Wall Street Journal (WSJ), “Jho Low, the businessman-turned-fugitive accused of masterminding a multibillion-dollar fraud involving Malaysia’s sovereign-wealth fund, agreed...more

Robins Kaplan LLP

Financial Daily Dose 10.31.2019 | Top Story: Fed Delivers Expected Interest Rate Cut

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As universally expected, the Fed’s Open Market Committee delivered its third interest rate cut of 2019 yesterday, though it did so while signaling that it’s likely to pause before taking action again and “is now shifting into...more

Robins Kaplan LLP

Financial Daily Dose 8.9.2019 | Top Story: Uber posts massive Q2 losses and slowing growth

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Uber went big on Thursday. Unfortunately, for everyone (including fans of cinnamon gum and oversized gingers) it was Big Red, as the ride-hailing company posted a $5.2 billion loss for Q2—its largest ever since it began...more

The Volkov Law Group

FCPA Predictions for 2019

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Here we go – another year, another set of predictions. Who knows whether they will come true? Actually, I went back and read my annual prediction posting for 2018 and 2017, respectively. Some things I called correctly, and...more

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