The SEC alleges that subsidiaries of Diebold Inc. in China and Indonesia spent approximately $1.8 million on travel, entertainment, and other improper gifts for senior officials with the ability to influence the banks’ purchasing decisions. Government-owned bank officials in China and Indonesia were rewarded with free trips to popular tourist destinations in the U.S. and Europe, and Diebold’s expenditures were falsely recorded in the company’s books and records as legitimate training expenses. Diebold’s subsidiary in China also provided dozens of government bank officials with annual cash gifts ranging from less than $100 to more than $600. The SEC further alleges that Diebold falsified books and records to hide approximately $1.2 million of bribes paid to employees at privately owned banks in Russia.
SEC Charges Diebold With FCPA Violations | Investor.gov
Qui Tam Federal False Claims Act Whistleblower Lawsuits allow whistleblowers to seek compensation on the government's behalf from companies and people that have defrauded taxpayers out of government money. Qui Tam Federal False Claims Act Whistleblower Lawyer Jason Coomer helps whistleblowers determine if they may have a viable Qui Tam Federal False Claims Act Lawsuit and blow the whistle on people that are stealing from the government.
Saturday, November 30, 2013
SEC.gov | SEC Charges Weatherford International With FCPA Violations
International Oil Company Bribes and Illegal Kickbacks Are the Basis for Foreign Corrupt Practices Act Whistleblower Reward Lawsuits That Can Pay Substantial Financial Rewards
Recent changes in the law are designed to expose corruption in the international oil industry. These laws offer large financial rewards to international whistleblowers that properly expose corruption including bribes and illegal kickbacks. These whistleblowers are encouraged to contact an international whistleblower who can confidentially review a potential case that can be the basis for a large financial reward. For more information on confidentially reporting international bribes and other corruption, please go to the following webpages: International Oil Company Employee Whistleblower Lawsuits and International Bribery Scheme and Illegal Kickback Whistleblower Reward Lawyers.
SEC.gov | SEC Charges Weatherford International With FCPA Violations
Washington D.C., Nov. 26, 2013 —
The Securities and Exchange Commission today charged oilfield services company Weatherford International with violating the Foreign Corrupt Practices Act (FCPA) by authorizing bribes and improper travel and entertainment for foreign officials in the Middle East and Africa to win business, including kickbacks in Iraq to obtain United Nations Oil-for-Food contracts.
The SEC alleges that Weatherford and its subsidiaries falsified its books and records to conceal not only these illicit payments, but also commercial transactions with Cuba, Iran, Syria, and Sudan that violated U.S. sanctions and export control laws. Weatherford failed to establish an effective system of internal accounting controls to monitor risks of improper payments and prevent or detect misconduct. The company reaped more than $59.3 million in profits from business obtained through improper payments, and more than $30 million in profits from its improper sales to sanctioned countries.
Swiss-based Weatherford, which has substantial operations in Houston, has agreed to pay more than $250 million to settle the SEC’s charges and parallel actions by the Department of Justice’s Fraud Section, U.S. Attorney’s Office for the Southern District of Texas, Department of Commerce’s Bureau of Industry and Security, and Department of Treasury’s Office of Foreign Assets Control.
International Oil Bribes and Whistleblower Reward Lawsuits
If you have evidence of an oil company giving bribes to government officials or former public officials for oil extraction contracts, it is important that you step forward and expose the illegal conduct. For more information on confidentially exposing oil bribes and potentially collecting large financial rewards, please go to the following webpages: International Oil Company Employee Whistleblower Lawsuits and International Bribery Scheme and Illegal Kickback Whistleblower Reward Lawyers.
Subscribe to:
Comments (Atom)