- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-03-07T20:02:00
An Ireland-based gaming and sports betting company will pay a $4 million fine to resolve charges payments made to Russian consultants by a company it acquired violated the Foreign Corrupt Practices Act (FCPA).
Flutter Entertainment agreed to cease and desist from future violations as part of the settlement it reached with the Securities and Exchange Commission (SEC). The company neither admitted nor denied the agency’s findings.
Flutter acquired The Stars Group (TSG), a Canadian-based gaming and sports betting company, in May 2020. TSG purchased PokerStars and several other online gaming brands from Oldford Group in 2014. As part of TSG’s acquisition of Oldford, it inherited Oldford’s Russian operations as well as certain Russian-based consultants, the SEC said in its order filed Monday. PokerStars operates in a “gray market” in Russia, the SEC said, where poker is neither legal nor expressly prohibited.
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Gartner agreed to pay nearly $2.5 million as part of a settlement with the Securities and Exchange Commission addressing alleged violations of the Foreign Corrupt Practices Act in South Africa.
Stryker disclosed it is investigating whether certain of its business activities might have violated the Foreign Corrupt Practices Act. The company previously settled Securities and Exchange Commission charges of violating the FCPA twice in the last decade.
Dutch oilfield services provider Frank’s International agreed to pay nearly $8 million as part of a settlement with the Securities and Exchange Commission for allegedly paying bribes to influence oil drilling contracts in Angola.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor over $1 trillion worth of customer transactions.
