- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-04-16T19:30:00
Proterial Cable America, a manufacturer of copper and fiberoptic communication cables and other tubing components, received a declination notice from the Department of Justice (DOJ) related to its voluntary self-disclosure and remediation of apparent fraud committed by its employees.
In receiving the declination, Proterial agreed to disgorge more than $15.1 million in ill-gotten gains related to the apparent misconduct, according to the DOJ’s notice dated April 12. The company has already paid back about $6 million and must prove to the DOJ it has paid the remaining total within 90 days.
Proterial received praise from the DOJ for its timely self-disclosure, full cooperation, and efforts to upgrade its compliance program.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
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.
Pharmaceuticals company Lifecore Biomedical won’t face prosecution for apparent violations of the Foreign Corrupt Practices Act after satisfying multiple factors of the Department of Justice’s recently updated voluntary self-disclosure policy.
The impact of the Department of Justice’s voluntary self-disclosure program was on display in the agency’s declination of an enforcement action against Florida-based health insurance company HealthSun Health Plans for apparent fraud committed by its employees and agents.
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.
