New York Times Reports Largest FCPA Settlements Have Been With Foreign Firms

September 6, 2012

By: James W. Kraus

The New York Times reports that the more than $3 billion in settlements that the Department of Justice has achieved with companies under the Foreign Corrupt Practices Act (FCPA) since the passage of the act in 1977 have been primarily with foreign companies.  The best-known case is that of Siemens, the German global engineering company that paid $800 million to the U.S. and another $800 million to Germany to settle charges that 8 former executives paid $100 million in bribes to Argentine officials to secure a $1 billion contract for Siemens.

Of the top ten settlements, only one company, KBR, the former Kellogg, Brown and Root, a subsidiary of Halliburton, is an American company.  However, The Times also reports that of the 78 companies now under investigation for suspected violations of the FCPA, most are American, including Alcoa, Goldman Sachs, Pfizer and Wal-Mart.

For more information, please see:​
http://www.nytimes.com/2012/09/04/business/global/bribery-settlements-under-us-law-are-mostly-with-foreign-countries.html?emc=eta1

News & Events

Related News

“Investigations,” Medicare and Medicaid Fraud and Abuse, 2022-2023 ed.
November 2, 2022
Pietragallo attorneys Kevin Raphael, James Kraus, and Lee Goldfarb have revised Chapter 6 “Investigations” in the Medicare and Medicaid Fraud and Abuse, 2022-2023 ed. Read More
23 Pietragallo Lawyers Named in 2023 The Best Lawyers in America and Ones to Watch
August 18, 2022
Pietragallo Gordon Alfano Bosick & Raspanti, LLP is pleased to announce that 23 lawyers have been named as 2023 The Best Lawyers in America and 2023 Ones to Watch, including Tama Beth Kudman who was recognized as 2023 Lawyer of the Year in West Palm Beach for Criminal Defense: White-Collar. Read More

Upcoming Events

Eric Soller to moderate 33rd Annual Academy of Trial Lawyers Federal Court Program
December 16, 2022
On Friday, December 16, 2022, Pietragallo partner Eric Soller will moderate the 33rd Annual Academy of Trial Lawyers Federal Court Program. Read More
Tama Beth Kudman to present at National Association of Criminal Defense Lawyers’ Advanced Criminal Law Seminar
January 23, 2023
Pietragallo partner Tama Beth Kudman will be presenting at the National Association of Criminal Defense Lawyers’ (NACDL) Advanced Criminal Law Seminar. Read More
View More News & Events