Archive for the Blog Category

SEC: Two Companies Settle via NPAs, Admit to Bribery of Chinese Subsidiaries

Cinnaminson, NJ- Per FCPA, two companies to agree to SEC non-prosecution agreements.   Akami Technologies (MA) and Nortek Inc. (RI) have both faced unconnected allegations of ill-gotten gains from bribery of Chinese subsidiaries. The companies are agreeing to forfeit $652,452 and $291,403, respectively, for confession to bribing and

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Fourth Individual in NYPA Big-Rigging Scandal Comes Forward, Faces up to Three Years and $250,000

Cinnaminson, NJ- The joint DOJ-IRS-New York Inspector General investigation of bid rigging and fraud within the New York Power Authority ciation has charged its fourth individual. John Simonlacaj of White Plains, NY confessed to a one-count felony charge of aiding NYPA authorities in filing a false tax

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Genentech Inc, OSI Pharmaceuticals Face $67 Million Settlement Fine, $10 Million to Whistleblower

Cinnaminson, NJ- Genentech Inc. (San Francisco, CA) and OSI Pharmaceuticals LLC (Farmingdale, NY) are to jointly pay $67 million following allegations of distorting effectiveness of a drug under the False Claims Act. The drug, Tarceva, was endorsed by both companies for its treatment of non-small cell lung

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Hitachi Chemical Reaches Next Step in Plea: $3.8 Million Fine, Probation, More

Cinnaminson, NJ- Hitachi Chemical, of an ongoing investigation into bid rigging and price fixing, has reached a next step in its plea agreement. The company is the majority supplier of electrolytic capacitors to American automotive companies but has come under investigation for market fixture so as to

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AAG Leslie R. Caldwell Headlines Conference to Fight Cybercrime (Speech)

Cinnaminson, NJ- Assistant Attorney General, Leslie R. Caldwell, spearheads Criminal Division’s efforts to re-strategize ways to investigate and combat cybercrime. A wholly international, and extremely passive, realm of crime, Caldwell advocates for cooperation from all fields- researchers, officials, officers, and more- to best protect Americans from cybercrime.

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Nashville Firm, CEO Alleged to Have Fraudulently Collected Extra Fees from Hedge Funds

Cinnaminson, NJ- Nashville-based Hope Advisors Inc. and CEO, Karen Bruton, facing allegations of fraudulent fee collection per SEC. Although no conviction has been made, the company is currently facing a freezing of $7 million in assets while investigation ensues.  The original article is reproduced below with its

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Deloitte Consulting LLP to Pay $11.38 Million in Damages for Contract Negligence

Cinnaminson, NJ–  New York-based consulting firm, Deloitte, has agreed to pay $11.38 million in reparations for failure to lower its prices per General Service Administration (GSA) contracting, costing government consumers millions from 2006-2012. The article is reproduced below with the original link following.   Deloitte Consulting LLP

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Three Navy Officers Indicted Following Multi-Year Bribery Scheme

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SEC Whistleblower Program Continues, Rewards Two Individuals $450,000

Cinnaminson, NJ- The SEC has continued to demonstrate its power in its new whistleblower program, rewarding two whistleblowers with $450,000 jointly. The third SEC whistleblower award this month, this payout follows a multi-million dollar settlement just last week, illustrating the SEC’s conviction in protecting, encouraging, and rewarding

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Hitachi Chemical Plea Agreement Part 1- Robert Connolly

Hitachi Chemical Plea Agreement: Part 1—Enhancement of Compliance Program as a Condition of Probation

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