We all value transparency as a general concept, especially when it comes to the government. In a real macro perspective, we fund the government and we demand that our government operate efficiently, effectively and ethically....more
In recent speeches, the Attorney General and an Principal Deputy Assistant Attorney General in the Criminal Division reconfirmed DOJ’s support for enforcement of the FCPA. No one should be surprised by their respective...more
Law enforcement focus on anti-money laundering appears to be increasing. While the last ten years has seen a marked increase in AML regulatory obligations, the new administration is likely to return to some of the more...more
4/3/2017
/ Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Financial Institutions ,
FinCEN ,
Risk Management ,
Shell Corporations ,
White Collar Crimes
Corporate misconduct occurs in a variety of forms. Starting with the basic truism – companies act through people, and when companies engage in misconduct it requires the coordination and collaboration of multiple actors. The...more
1/19/2017
/ Automotive Industry ,
Carbon Emissions ,
Compliance ,
Corporate Culture ,
Corporate Misconduct ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Ethics ,
Foreign Corrupt Practices Act (FCPA) ,
National Emissions Standards ,
Volkswagen ,
White Collar Crimes
You know this has been a big year in FCPA enforcement when DOJ and the SEC announce two FCPA settlements during the usually sleepy week between Christmas and New Years. And what a year it has been – more to follow in my...more
12/30/2016
/ Aircraft ,
Angola ,
Bribery ,
Cease and Desist Orders ,
Compliance ,
Corruption ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Disgorgement ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Official ,
Freight Forwarding ,
Indictments ,
Kickbacks ,
Mexico ,
Money Laundering ,
Sales Commissions ,
Securities and Exchange Commission (SEC) ,
White Collar Crimes
Two executives were charged last week with criminal violations in the Southern District of New York relating to Valeant Pharmaceuticals activities. These charges are the first of more to come in an ongoing investigation...more
11/29/2016
/ Accounting Fraud ,
Bribery ,
Criminal Investigations ,
Criminal Prosecution ,
Drug Pricing ,
Fraud ,
Kickbacks ,
Pharmaceutical Industry ,
Pharmacies ,
Price Gouging ,
Valeant ,
White Collar Crimes
The Justice Department and the Securities Exchange Commission delivered a powerful FCPA enforcement message to private equity and hedge funds. Och-Ziff settled with the DOJ and SEC for total penalties of $412 million....more
10/10/2016
/ Africa ,
Books & Records ,
Bribery ,
Compliance ,
Corporate Counsel ,
Corruption ,
Criminal Conspiracy ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Democratic Republic of Congo ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Foreign Corrupt Practices Act (FCPA) ,
Government Officials ,
Hedge Funds ,
Internal Controls ,
Investment ,
Libya ,
Och-Ziff ,
Popular ,
Private Equity ,
Private Equity Funds ,
Securities and Exchange Commission (SEC) ,
Settlement Agreements ,
Sovereign Wealth Funds ,
White Collar Crimes
Last week, the Justice Department reported a guilty plea in the VW emissions scandal prosecution. By this one announcement, DOJ signaled that it is planning to build a bigger case against VW. Ironically, the Justice...more
9/13/2016
/ Automotive Industry ,
BSA/AML ,
Carbon Emissions ,
Cooperation ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Foreign Corrupt Practices Act (FCPA) ,
National Emissions Standards ,
Plea Agreements ,
Volkswagen ,
White Collar Crimes
In an important decision, on July 6, 2016, the Eighth Circuit Court of Appeals affirmed the prison sentences imposed on Jack DeCoster, and his son, Peter, under the “responsible corporate officer” doctrine (aka Park doctrine)...more
8/16/2016
/ 21 USC Section 331(a) ,
Corporate Officers ,
Criminal Liability ,
Criminal Prosecution ,
Distributors ,
Food and Drug Administration (FDA) ,
Food Contamination ,
Food Safety ,
Negligence ,
Park Doctrine ,
Responsible Corporate Officer Doctrine ,
Salmonella
Just to add my voice to the cottage industry surrounding FCPA enforcement and compliance, I wanted to take a deep breath and offer some observations on FCPA enforcement in 2016.
There are a few significant headlines...more
8/8/2016
/ Akamai Technologies ,
Bribery ,
China ,
Compliance ,
Corporate Counsel ,
Corruption ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Enforcement Actions ,
Federal Pilot Programs ,
Foreign Corrupt Practices Act (FCPA) ,
Healthcare ,
Nortek ,
Novartis ,
Qualcomm ,
SciClone Pharmaceuticals ,
Securities and Exchange Commission (SEC) ,
Technology Sector ,
VimpelCom ,
Voluntary Disclosure ,
White Collar Crimes ,
Yates Memorandum
The political campaign season has included plenty of discussion surrounding reforming our criminal justice system, and in particular sentencing for drug offenses. We have not heard much discussion about white-collar criminal...more
The Supreme Court’s decision in the McDonnell case was expected. It was evident that the Supreme Court was going to reverse the convictions when it granted a stay of McDonnell’s sentence and agreed to hear the case....more
The SEC has been flexing its muscles lately. If you had some of the enforcement tools the SEC has, you would be doing the same. What am I referring to?
The FCPA statute included broad provisions requiring companies to...more
The Volkov Law Group would like to applaud the efforts of its own Susan Simpson, as well as the rest of the Undisclosed: The State v. Adnan Syed team, for uncovering critical facts that led a Maryland Judge to grant Adnan...more
In another set back last week, after a contentious criminal prosecution, the government dismissed its criminal charges against Federal Express. DOJ indicted Federal Express for drug trafficking relating to shipping of illegal...more
Last week was a tough week for the Justice Department’s criminal prosecutors. Before everyone gets out their Yates Memorandum trending claims, it is important to recognize that DOJ’s loss in several high profile cases does...more
6/21/2016
/ Acquittals ,
Anti-Kickback Statute ,
Criminal Conspiracy ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Kickbacks ,
Pharmaceutical Industry ,
Physicians ,
Prescription Drugs ,
Warner Chilcott ,
Yates Memorandum
Let’s start with a big “If.” I know that sounds like a real turn off but bear with me.
Assuming that the Justice Department is ready to turn over a new approach to criminal enforcement and aggressively prosecute culpable...more
The D.C. Circuit dealt a blow last week to judicial attempts to exercise supervision over Justice Department negotiated Deferred Prosecution Agreements. In United States v. Fokker, the Court answered the question in a...more
4/20/2016
/ Charging Orders ,
Compliance ,
Criminal Prosecution ,
Deferred Prosecution Agreements ,
Department of Justice (DOJ) ,
Fokker ,
Foreign Corrupt Practices Act (FCPA) ,
Government Investigations ,
Settlement ,
Voluntary Disclosure ,
Yates Memorandum
We have all been reading (over and over) about the Yates Memorandum and the renewed focus on individual culpability. As I have said (over and over), the proof will be in the results – if we see an increased number of criminal...more
Over the last ten to twenty years, we have witnessed the expansion of federal criminal prosecution of health and safety matters. Environmental and food and drug regulatory enforcement has been supplemented by aggressive...more
3/7/2016
/ Compliance ,
ConAgra ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Federal Food Drug and Cosmetic Act (FFDCA) ,
Food Contamination ,
Food Manufacturers ,
Food Recalls ,
Food Safety ,
Popular ,
Salmonella ,
Supply Chain
The issue of deterrence is easy to boil down – a company pays a fine of $500 million for illegal conduct and continues on its merry way. If the same company pays the same fine of $500 million and three of its top executives...more
The SEC is setting its sights on individual prosecutions. Both the Justice Department and the SEC have reiterated the importance of prosecuting individuals. DOJ’s Yates Memorandum promises to deliver an increase in civil and...more
When the Justice Department adopts new strategies and policies, it takes time for results. Rest assured, however, that the Justice Department’s focus on individual accountability is going to have real and significant...more
Recent press reports suggest that the Justice Department is reconsidering its FCPA criminal prosecution policies, particularly with respect to corporate defendants. As reported, DOJ is considering defining and increasing...more
In the public relations battle following the issuance of the Yates Memo, the Justice Department can now cite one example for the new policy – the recent arrest and charging of Carl Reichel, former President of Warner...more
11/4/2015
/ Anti-Kickback Statute ,
Corporate Counsel ,
Criminal Investigations ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Federal Contractors ,
Government Investigations ,
Health Insurance ,
Healthcare ,
Healthcare Fraud ,
Insurance Industry ,
Kickbacks ,
Pharmaceutical Industry ,
Physicians ,
Popular ,
Qui Tam ,
Relators ,
Warner Chilcott ,
White Collar Crimes ,
Yates Memorandum