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Bribery

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  • HONG KONG, Dec 19- A former top Hong Kong civil servant was found guilty on Friday of accepting millions of dollars in bribes from the city's largest property developer, Sun Hung Kai Properties Ltd.. Raymond Kwok, co-chairman of the company, was found not guilty of three charges in the graft case. Hong Kong returned to Chinese rule in 1997 and has a separate legal...

  • Brazil graft cases: Beginning of impunity's end? Friday, 19 Dec 2014 | 12:03 AM ET

    RIO DE JANEIRO— A federal investigation into a kickback scheme at Brazil's state oil company has, so far, ensnared 30 executives. And in perhaps the most stunning turn of all, the oil and mining tycoon who once was Brazil's richest billionaire is on trial for something that, until recently, was not even seen as a crime: profiting from inside information.

  • Ex-Rite Aid VP charged in $14.6M surplus scheme Thursday, 18 Dec 2014 | 1:47 PM ET

    HARRISBURG, Pa.— A former Rite Aid quality assurance executive in Oregon and a New Jersey businessman have agreed to plead guilty to charges in connection with a nine-year, $14.6 million surplus inventory kickback scheme. Federal prosecutors Thursday charged Timothy Foster and businessman Jay Findling with conspiracy to commit wire fraud and 65- year-old...

  • Avon Products settles bribery charges for $135M Wednesday, 17 Dec 2014 | 7:46 PM ET

    NEW YORK— The world's largest direct seller of cosmetics, Avon Products Inc., will pay $135 million to settle criminal and civil charges after its China unit pleaded guilty Wednesday to conspiring to violate the Foreign Corrupt Practices Act by bribing officials there. Avon China entered the plea in federal court in Manhattan, admitting it disguised $8...

  • NEW YORK/ WASHINGTON, Dec 17- The China unit of Avon Products Inc pleaded guilty on Wednesday in connection with a bribery scheme and Avon agreed to pay $135 million to resolve related civil and criminal charges. "Avon China's conduct in this regard was wrong and violated its own policies and the policies of Avon Products Inc," Benjamin said. The SEC said Avon made...

  • RIO DE JANEIRO, Dec 17- Petroleo Brasileiro SA's Chief Executive Officer Maria das Graças Foster said on Wednesday that she had offered to resign because of a widening alleged bribery scandal but that Brazil's President Dilma Rousseff had turned her down. "I need to be investigated, we all need to be investigated, that takes time," Foster told journalists at...

  • NEW YORK, Dec 17- Two former executives of a defunct New York broker-dealer pleaded guilty on Wednesday to charges stemming from their involvement in a foreign bribery scheme involving their employer and a Venezuelan state economic development bank. Benito Chinea, the former chief executive of Direct Access Partners LLC, and Joseph Demeneses, a onetime...

  • Dec 17- A U.S. judge has dismissed Steve Wynn's lawsuit accusing prominent short-seller Jim Chanos of slander over an alleged statement that the casino mogul violated a U.S. anti-bribery law. District Judge William Orrick in San Francisco ruled on Tuesday that Chanos was giving an opinion protected under the U.S. Chanos, founder of New York- based hedge fund...

  • Rio prosecutors file new case against Petrobras Tuesday, 16 Dec 2014 | 4:30 PM ET

    RIO DE JANEIRO— Officials from Rio de Janeiro public prosecutors' office said Tuesday that they've filed legal action against Brazil's scandal-mired oil company, Petrobras, as well as top builder Andrade Gutierrez. Authorities there allege top officials from Petrobras operated a kickback scheme on contracts worth upward of $4 billion, with money from the...

  • WASHINGTON/ PARIS, Dec 16- Alstom SA is close to settling a bribery case with the U.S. Justice Department for $700 million, a person close to the matter said on Tuesday, in what would be the largest criminal fine levied by the United States for foreign bribery. A top Justice Department official said in a speech last month that Alstom executives along with Japanese...

  • Alstom to settle bribery charge: Report  Tuesday, 16 Dec 2014 | 10:19 AM ET

    Alstom is close to settling a bribery charge for more than $500 million with the U.S. Justice Department, reports CNBC's Dominic Chu.

  • China imprisons businesswoman in rail graft case Tuesday, 16 Dec 2014 | 2:19 AM ET

    BEIJING— A Beijing court on Tuesday sentenced a businesswoman linked to China's fallen ex-railway minister to 20 years in prison for bribery and interfering with bids for rail projects. Ding Yuxin, formerly known as Ding Shumiao, illegally helped 23 companies win bidding for 57 projects and personally received 2 billion yuan for her efforts, the Beijing No. 2...

  • Julio Camargo, a consultant for contractor Toyo Setal, and lobbyist Fernando Soares were charged along with Cervero with allegedly paying out $40 million in kickbacks to political parties, executives and contractors and accepting $13 million in bribes from Korean shipbuilder Samsung Heavy Industries, the prosecutors said in a statement.

  • The prosecutors said Nestor Cervero, the former head of Petrobras' distribution subsidiary, as well as lobbyist Fernando Soares and Julio Camargo of local contractor Toyo Setal funneled $40 million of kickbacks and accepted $13 million in bribes from Korean shipbuilder Samsung Heavy Industries. Toyo Setal and Samsung Heavy Industries were not...

  • Newspaper: Petrobras told of corruption in 2009 Friday, 12 Dec 2014 | 5:11 PM ET

    SAO PAULO— Brazil's state-run oil company was warned five years ago of the kickback scheme that has plunged Petrobras into one of the country's worst corruption scandals, a newspaper reported Friday. The paper, Valor Economico, said it obtained documents showing that in 2009, former Petrobras executive Venina Velosa da Fonseca warned chief executive Maria...

  • SAO PAULO, Dec 12- Brazil's securities industry watchdog opened eight investigations into executives at state-controlled oil producer Petróleo Brasileiro SA related to a vast graft and money-laundering scheme inside the company, three sources with direct knowledge of the situation said. Rio de Janeiro- based CVM is also extending the inquiries to the...

  • CURITIBA, Brazil, Dec 11- Brazilian prosecutors formally charged executives from six of the country's largest engineering firms with forming a cartel to funnel kickbacks from state-run oil firm Petrobras to the ruling political party and its allies on Thursday. They were also indicted on charges of corruption, money laundering and organized crime in a...

  • CURITIBA, Brazil, Dec 11- Brazilian prosecutors formally charged executives from six of the country's largest engineering firms of forming a cartel to funnel kickbacks from state-run oil firm Petrobras to the ruling political party and its allies on Thursday. They were also indicted on charges of corruption, money laundering and organized crime in a...

  • BRASILIA, Dec 9- Brazil's prosecutor-general Rodrigo Janot on Tuesday called for the replacement of state-controlled oil company Petrobras' top management and punishment of everyone involved in a scheme to funnel kickbacks from contracts to politicians. Janot made his strongest comments so far on Brazil's latest corruption scandal as federal...

  • BRASILIA, Dec 9- Brazil's top prosecutor called on Tuesday for the punishment of everyone involved in a scheme to funnel kickbacks from contracts with state-run oil firm Petrobras to politicians, and said he expected the company's management to be replaced. Rodrigo Janot's strongest comments so far on Brazil's latest corruption scandal were made as federal...