- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-07-23T13:06:00
A French bus parts supplier will pay more than $2.4 million in penalties, disgorgement, and restitution to settle charges that it fraudulently misled its U.S. customers about the source of some of its parts.
As part of a settlement with the Department of Justice (DOJ), announced Monday in a press release, CBM will pay a fine of $1.5 million, disgorgement of approximately $463,000, and nearly $440,000 in restitution.
The CBM agreed to a two-year non-prosecution agreement (NPA) that requires it to self-report any future violations and “continue in its efforts to implement and maintain an adequate compliance program,” the agency said. The DOJ noted it will prosecute any newly discovered misconduct as well as misconduct covered by the NPA.
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
2024-08-26T14:37:00Z By Aaron Nicodemus
The Department of Justice joined a whistleblower lawsuit filed by two former Georgia Tech compliance officers who alleged that the institute violated the False Claims Act by knowingly failing to meet cybersecurity requirements in a Department of Defense contract.
2024-05-22T20:55:00Z By Jeff Dale
The Department of Justice declined to prosecute Massachusetts-based biochemical company MilliporeSigma for its “extraordinary cooperation” in uncovering a “rogue” employee’s scheme to procure and ship discounted products to China using falsified export documents.
2024-04-17T17:00:00Z By Aaron Nicodemus
The Department of Justice launched a new pilot program that encourages voluntary self-disclosure by corporate executives who are themselves involved in financial misconduct, with the incentive of a nonprosecution agreement for those who help an agency investigation.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
Site powered by Webvision Cloud