- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2019-11-01T17:48:00
The former CEO and chief operations officer of Monaco-based Unaoil have pleaded guilty for their roles in a scheme to corruptly facilitate millions of dollars in bribe payments to officials in multiple countries.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
The Serious Fraud Office will be investigated by the U.K. Attorney General’s Office after a court said the agency denied a convicted former oil and gas executive the right to a fair trial.
Following a four-year investigation, the U.K. Serious Fraud Office has secured convictions against two former Unaoil executives for bribes made to win oil services contracts in Iraq, although the presiding judge ordered a review into how SFO Director Lisa Osofsky led the case.
The U.K. Serious Fraud Office closed its bribery investigation into power and automation technology provider ABB after concluding the case “did not meet the relevant test for prosecution.”
The United States broke from a three-year downturn in bribery-related enforcement actions, while Brazil continued its emergence in the space, according to the results of the latest annual Global Enforcement Report by nonprofit TRACE.
The number of U.S. foreign bribery enforcement actions slowed notably in 2021, while the overall pace of transnational anti-bribery enforcement actions and investigations lagged worldwide, according to TRACE International’s latest enforcement report.
A payment by a U.S.-based company to a third-party intermediary under circumstances that placed an employee’s life and well-being at “significant risk” would not trigger enforcement under the anti-bribery provisions of the FCPA, the Department of Justice stated in an opinion procedure.
