- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-09-11T14:16:00
Illinois-based manufacturer John Deere will pay approximately $10 million in penalties and disgorgement to the Securities and Exchange Commission (SEC) for violating the Foreign Corrupt Practices Act (FCPA) with bribes paid by a Thai subsidiary.
The SEC alleged that a John Deere subsidiary, Wirtgen Thailand, paid bribes to government officials and to a private company in Thailand to win contracts from 2017-20. John Deere settled the charges by agreeing to pay a $4.5 million fine and $5.4 million in disgorgement and prejudgment interest, the SEC announced in a press release Tuesday.
According to the SEC’s order, the misconduct included paying for massage parlor sessions, sightseeing trips disguised as factory visits, and cash payments made by a third party. The expenses were improperly recorded as legitimate commissions and other business expenses by Wirtgen Thailand employees, the SEC said.
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2024-10-15T17:05:00Z By Aaron Nicodemus
A company culture geared to “win business at any cost” encouraged employees of New York-based aerospace manufacturer Moog to pay bribes in India to win contracts, the Securities and Exchange Commission alleged.
2024-09-25T20:22:00Z By Aaron Nicodemus
Aviation maintenance services provider AAR Corp. disclosed that several former employees may have bribed officials in Nepal and South Africa to win contracts, and chose to self-report violations of the Foreign Corrupt Practices Act to authorities in the U.S. and U.K.
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The Department of Justice declined to prosecute Boston Consulting Group for allegedly bribing Angolan officials in violation of the Foreign Corrupt Practices Act, citing the firm’s prompt self-disclosure and timely remediation.
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
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