DaimlerChrysler FCPA Probe Reflects Trend
The Washington Post reports today that "DaimlerChrysler AG's disclosure last week that the Department of Justice is investigating bribery allegations involving the car company's European executives is a sign of the U.S. government's stepped-up anti-corruption efforts targeting both domestic and non-U.S. companies." The U.S. Securities and Exchange Commission (SEC) has been investigating alleged violations of the Foreign Corrupt Practices Act at DaimlerChrysler's Mercedes-Benz division for nearly one year. The article also indicates that in yet another "FCPA investigation, this one tied to Riggs Bank, New York oil company Amerada Hess Corp. disclosed yesterday that the SEC had upgraded its previously informal inquiry into Amerada's payments to the government and officials of Equatorial Guinea."
|posted by Douglas N. Jacobson| Permalink 
