- 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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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.
Indian conglomerate Adani Group said it is aware of an investigation by the U.S. Department of Justice into bribery allegations against a “third party” but denied a relationship with it.
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 more than $1 trillion worth of customer transactions.
