- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2024-03-28T19:53:00
Singapore-based commodity trading company Trafigura agreed to pay nearly $127 million as part of a resolution with the U.S. Department of Justice (DOJ) addressing violations of the Foreign Corrupt Practices Act (FCPA) in Brazil.
The company pleaded guilty to one count of conspiracy to violate the FCPA and was assessed a criminal penalty of approximately $80.5 million and forfeiture of about $46.5 million, the DOJ announced in a press release Thursday. The agency agreed to credit about $26.8 million of the criminal fine against amounts Trafigura pays to resolve related investigations by Brazilian authorities.
Trafigura disclosed in December it expected to pay $127 million related to the matter, which primarily occurred more than a decade ago.
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RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
Singapore-based commodity trading company Trafigura will pay $55 million to the Commodity Futures Trading Commission to settle charges related to fraud, manipulation, and impeding whistleblower communications with the agency.
The value the Department of Justice places on cooperation can be measured by studying penalties and agreements resulting from the agency’s long-running investigation into bribery and corruption by oil traders operating in Latin America and Africa.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
A publicly traded cryptocurrency mining company will pay $10 million and completely change its business model to one with “lower corruption risk” as part of a settlement over violations of the Foreign Corrupt Practices Act (FCPA), two regulators announced.
