- 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.
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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.
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.
Proterial Cable America received a declination notice from the Department of Justice related to its voluntary self-disclosure and remediation of apparent fraud committed by its employees.
The Federal Communications Commission is preparing to take enforcement action against AT&T for a data outage in February that blocked 92 million phone calls.
The Federal Reserve Board of Governors fined financial technology and bank holding company Green Dot $44 million for numerous unfair and deceptive practices and a deficient consumer compliance risk management program.
DaVita, a multi-state dialysis provider, agreed to pay more than $34 million to resolve allegations it engaged in numerous kickback schemes to doctors who referred Medicare patients to its dialysis centers, the Department of Justice announced.
