Shows
Corruption Crime & ComplianceDeep Dive into the Honeywell FCPA SettlementIn this episode, host Michael Volkov takes a closer look at the Honeywell FCPA case. The Justice Department and the FCC had a strong year in FCPA enforcement; they closed out the year with two important cases, ABB and Honeywell. Last week's episode covered the ABB case, and this episode will focus on the Honeywell UOP case, which resulted in a $160,000,000 settlement. Honeywell was involved in a bribery scheme in Brazil and Algeria to secure contracts with state-owned oil companies.Honeywell conspired to offer a $4 million bribe to a high-ranking executive of Petrobras in Brazil i...
2023-01-3018 min
Corruption, Crime & ComplianceDeep Dive into the Honeywell FCPA SettlementIn this episode, host Michael Volkov takes a closer look at the Honeywell FCPA case. The Justice Department and the FCC had a strong year in FCPA enforcement; they closed out the year with two important cases, ABB and Honeywell. Last week's episode covered the ABB case, and this episode will focus on the Honeywell UOP case, which resulted in a $160,000,000 settlement. Honeywell was involved in a bribery scheme in Brazil and Algeria to secure contracts with state-owned oil companies.Honeywell conspired to offer a $4 million bribe to a high-ranking executive of Petrobras in Brazil in an attempt to s...
2023-01-3018 min
Corruption, Crime & ComplianceDeep Dive into the ABB FCPA CaseABB is a three-time loser in foreign bribery enforcement, but still agreed to pay $315 million to settle FCPA charges. The company also resolved SEC charges for $75 million.ABB's criminal history includes bid rigging and bribery violations in multiple countries. However, the DOJ cited ABB's extraordinary cooperation and extensive remediation when they announced the settlement. Michael Volkov explores ABB’s history of FCPA violations, leading up to their most recent, in this week’s show.ABB paid a settlement of $315,000,000 for its extensive criminal history record, including multiple violations of the Foreign Corrupt Practices Act and a prior conviction for price fi...
2023-01-2318 min
Corruption Crime & ComplianceThe Curious FCPA Case of Asante BerkoThe Curious FCPA Case of Asante BerkoIn 2020, Asante Berko settled a case with the SEC by agreeing to pay $329,000. A criminal indictment was filed in Brooklyn, New York shortly after the settlement. In November of 2022, Berko arrived in London at Heathrow Airport and was then arrested; charged with conspiring with two Ghanaian officials and four other individuals to benefit Goldman Sachs, himself, and a Turkish energy company. The scheme began to unravel when Goldman Sachs discovered the payments. Join Michael Volkov as he examines the recidivist case of Asante Berko’s FCPA violations....
2022-12-1915 min
Corruption, Crime & ComplianceThe Curious FCPA Case of Asante BerkoThe Curious FCPA Case of Asante BerkoIn 2020, Asante Berko settled a case with the SEC by agreeing to pay $329,000. A criminal indictment was filed in Brooklyn, New York shortly after the settlement. In November of 2022, Berko arrived in London at Heathrow Airport and was then arrested; charged with conspiring with two Ghanaian officials and four other individuals to benefit Goldman Sachs, himself, and a Turkish energy company. The scheme began to unravel when Goldman Sachs discovered the payments. Join Michael Volkov as he examines the recidivist case of Asante Berko’s FCPA violations.Berko orchestrated the bribery scheme between 2014 and 20...
2022-12-1915 min
Corruption Crime & ComplianceUpdate on Export Controls and Sanctions: Interview with Alex CotoiaIn early October, the BIS announced two rules imposing significant export controls on semiconductor chips transactions for supercomputer end uses. This week’s show discusses recent developments in the sphere of export controls and sanctions. Alexander Cotoia, Regulatory Compliance Manager at the Volkov Law Group, joins Michael Volkov to explore the BIS’ ramping up of export control enforcement, including the new restrictions on China and Russia.Some ideas you’ll hear them explore are:The SQE route for experienced legal professionals aims to democratize the legal profession to include underrepresented minorities and other people...
2022-12-1223 min
Corruption, Crime & ComplianceUpdate on Export Controls and Sanctions: Interview with Alex CotoiaIn early October, the BIS announced two rules imposing significant export controls on semiconductor chips transactions for supercomputer end uses. This week’s show discusses recent developments in the sphere of export controls and sanctions. Alexander Cotoia, Regulatory Compliance Manager at the Volkov Law Group, joins Michael Volkov to explore the BIS’ ramping up of export control enforcement, including the new restrictions on China and Russia.Some ideas you’ll hear them explore are:The SQE route for experienced legal professionals aims to democratize the legal profession to include underrepresented minorities and other people who might not have access to the ty...
2022-12-1223 min
Corruption Crime & ComplianceA Deep Dive into the Oracle FCPA SEC SettlementOracle Corporation settled its second FCPA case in ten years. It agreed to pay the SEC $23 million to resolve allegations that its subsidiaries in Turkey, India and the United Arab Emirates maintained slush funds to bribe foreign officials. Ten years ago in 2012, Oracle paid the SEC $2 million for creating millions of dollars in off-the-books accounts at its India subsidiary. Join Michael Volkov as he takes a deep dive in the Oracle case and provides valuable lessons for managing third-party corruption risks.In the SEC’s mind, Oracle is a recidivist, having its second enforcement action ca...
2022-12-0517 min
Corruption, Crime & ComplianceA Deep Dive into the Oracle FCPA SEC SettlementOracle Corporation settled its second FCPA case in ten years. It agreed to pay the SEC $23 million to resolve allegations that its subsidiaries in Turkey, India and the United Arab Emirates maintained slush funds to bribe foreign officials. Ten years ago in 2012, Oracle paid the SEC $2 million for creating millions of dollars in off-the-books accounts at its India subsidiary. Join Michael Volkov as he takes a deep dive in the Oracle case and provides valuable lessons for managing third-party corruption risks.In the SEC’s mind, Oracle is a recidivist, having its second enforcement action case in 10 years.The settlement fo...
2022-12-0517 min