Application[edit] Notable cases of the application of FCPA are with Walmart, BAE Systems, Baker Hughes, Daimler AG, Halliburton, KBR, Lucent Technologies, Monsanto, Siemens, Titan Corporation, Triton Energy Limited, Avon Products, and Invision Technologies. An April 2012 article in The New York Times reported that a former executive of Walmart de Mexico alleged in September 2005 that Walmart de Mexico had paid bribes to officials throughout Mexico in order to obtain construction permits, that Walmart investigators found credible evidence that Mexican and American laws had been broken, and that Walmart executives in the United States hushed up the allegations.[11][12] According to an article in Bloomberg, Wal-Marts probe of possible bribery in Mexico may prompt executive departures and steep U.S. government fines if it reveals senior managers knew about the payments and didnt take strong enough action, corporate governance experts said.[13] Eduardo Bohorquez, the director of Transparencia Mexicana, a watchdog group in Mexico, urged the Mexican government to investigate the allegations.[14] Wal-Mart and the US Chamber of Commerce had participated in a campaign to amend FCPA; according to proponents, the changes would clarify the law, while according to opponents, the changes would weaken the law.[15] Former Representative William J. Jefferson, Democrat of Louisiana, was charged with violating this act by bribing African governments for business interests.[16] In 2008, Siemens AG paid a $450 million fine for violating the FCPA. This is one of the largest penalties ever collected by the DOJ for an FCPA case.[17] The U.S. Justice Department and the Securities and Exchange Commission are currently investigating whether Hewlett Packard Company executives paid about $10.9 million in bribery money between 2004 and 2006 to the Prosecutor General of Russia to win a €35 million-dollar contract to supply computer equipment throughout Russia.[18] Stronger USDOJ and SEC enforcement increased the prominence of the FCPA from 2010 onwards.[19]
Posted on: Sat, 27 Dec 2014 08:42:45 +0000
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