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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2022-12-27T16:20:00
The U.S. Department of Justice (DOJ) on Dec. 21 informed the legal representatives of French aircraft equipment manufacturer Safran that the company would not face prosecution regarding alleged bribes paid by employees to a China-based consultant.
The agency’s declination letter published on its website acknowledged Safran’s cooperation in its investigation and agreement to disgorge more than $17 million in profits allegedly obtained through corrupt means among reasons for its decision. The determination is the second of its kind by the DOJ this year, after the agency in March informed Jardine Lloyd Thompson Group Holdings it would similarly avoid prosecution under the Foreign Corrupt Practices Act (FCPA).
The DOJ said Safran violated the FCPA when representatives of its U.S. subsidiary Monogram Systems and German subsidiary EVAC GmbH “paid millions of dollars to a China-based business consultant who was a close relative of a then-senior Chinese government official.” The subsidiaries knew the money would be used to bribe the official to obtain train lavatory contracts with the Chinese government, according to the DOJ.
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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.
2023-03-13T13:40:00Z By Kyle Brasseur
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