ARTICLE: THE FOREIGN CORRUPT PRACTICES ACT: TAKING A BITE OUT OF BRIBERY IN INTERNATIONAL BUSINESS TRANSACTIONS Skip over navigation
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Copyright (c) 2012 Fordham Journal of Corporate & Financial Law
Fordham Journal of Corporate & Financial Law

ARTICLE: THE FOREIGN CORRUPT PRACTICES ACT: TAKING A BITE OUT OF BRIBERY IN INTERNATIONAL BUSINESS TRANSACTIONS

2012

Fordham Journal of Corporate & Financial Law

17 Fordham J. Corp. & Fin. L. 545

Author

Carl Pacini *

Excerpt

INTRODUCTION

In February 2010, BAE Systems reached settlements with the U.S. Department of Justice ("DOJ") and the United Kingdom Serious Fraud Office totaling $ 450 million. 1 The settlements involved an alleged violation of the Foreign Corrupt Practices Act ("FCPA") 2 in connection with the sale of a radar system to Tanzania. 3 In January 2010, the DOJ arrested 22 employees and executives of firms in the military products industry. 4 They were indicted on charges of bribing government officials in an African country to obtain a presidential guard business. 5 In April of 2010, Charles Jumet of Virginia was "sentenced to 87 months in prison for paying bribes to former Panamanian government officials to secure maritime contracts." 6 In May of 2011, "a jury convicted Lindsey Manufacturing Co., two of its executives, and a Mexican sales agent in a bribery case." 7 This marked the first time a company has been convicted at trial for violations of the FCPA. 8

In 2000, there was one FCPA case pursued by the federal government. In 2009, there were 67 cases filed by the DOJ and the Securities and Exchange Commission ("SEC") (see Table 1). These facts highlight the growing priority given to FCPA enforcement by the DOJ and the SEC. The Assistant Attorney General Lanny A. Breuer, insists that aggressive prosecution of the FCPA "should make clear to every corporate executive, every board member, and every sales agent that [the DOJ] will seek to hold you personally accountable ...
 
 
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