JPMorgan Seeks Global Settlement with Department of Justice

JPMorgan Chase’s CEO Jaime Dimon met with Attorney General Eric Holder to discuss a settlement over improper mortgage practices by the bank.  JPMorgan’s current offer is the payment of $7 billion in fines and another $4 billion to relieve struggling homeowners.  The government apparently wants more that the proposed $7 billion in fines and penalties.  […]

Government to Use Full Arsenal to Combat White Collar Crime

Traditional investigation of white collar offenses has involved reactive strategies focusing on document review and witness interviews. Increasingly the Department of Justice is using more proactive investigative strategies. For instance, the Galleon hedge fund insider trading prosecution is using extensive wire tap evidence. Additionally, the Department has recently brought a prosecution against 22 individuals for […]

Daimler Reportedly Agrees to Global Settlement with U.S. over FCPA Violations

BusinessWeek magazine is reporting that Daimler AG has reached a global settlement with the U.S. over allegations that the company, during its incarnation as DaimlerChrysler, violated provisions of the Foreign Corrupt Practices Act (“FCPA”). The reported settlement will involve the payment of $200 million in civil penalties and criminal pleas by two Daimler subsidiaries. The […]

DOJ Turns to FCPA

The Department of Justice is turning to a Watergate era statute to battle international business corruption. In 1977 the Foreign Corrupt Practices Act became law. The law responded to the fact that many companies maintained off shore funds about which they kept inadequate informaion. Investigations at the time revealed that companies used such slush funds […]

DOJ Increases Prosecution of Corruption by American Companies Overseas

The federal government is increasingly bringing criminal charges focusing on corruption overseas. Most often considered is prosecution under the Foreign Corrupt Practices Act (“FCPA”). In the typical FCPA scenario, a corporate officer pays a bribe to a foreign official. Equally important although less often considered by corporate officers is the increased use of standard mail/wire […]