- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Och-Ziff Capital Management Group, a publicly traded hedge fund firm, disclosed in a quarterly filing this week that it has accrued a $200 million loss, thus far, to resolve violations of the Foreign Corrupt Practices Act. It also said its “probable” that the government will pursue civil and criminal sanctions.
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Deeply suspicious oil, gas, and mining deals that involve complex use of shell companies raise concerns over the use of shell companies themselves. They might be legal, but are they good compliance practice?
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PetroChina International America agreed to pay a fine and forfeiture of $14.5 million to settle charges with the Department of Justice that it violated U.S. export control laws.
