Saturday, February 14, 2009

In the News and Around the Blogosphere

Wednesday, February 11, 2009

In the News & Around the Blogosphere

Kellogg, Brown & Root LLC Pleads on FCPA

According to a DOJ Press Release "Kellogg Brown & Root LLC (KBR), a global engineering, construction and services company based in Houston, pleaded guilty today to charges related to the Foreign Corrupt Practices Act (FCPA) for its participation in a decade-long scheme to bribe Nigerian government officials to obtain engineering, procurement and construction (EPC) contracts. . ."  The company plead to a "five-count criminal information" and "agreed to pay a $402 million criminal fine." The company issued a press release that stated that:

"[u]nder the terms of the settlement announced earlier today, KBR will make payments totaling $20 million over the next eight quarters to the DOJ. The information contained in the DOJ and SEC settlements note aggregate financial penalties totaling $579 million. The remainder of the penalties will be paid by Halliburton pursuant to indemnities under the 2006 Master Separation Agreement between KBR and Halliburton."

KBR has also agreed "to retain a compliance monitor to review KBR's continued compliance with anti-corruption laws."  See also the FCPA Blog here

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February 11, 2009 in FCPA | Permalink | Comments (0) | TrackBack (0)

Tuesday, February 10, 2009

NeuroMetrix- Deferred Prosecution Agreement

Check out Marketwatch, NeuroMetrix Resolves Investigation into Past Sales and Marketing Practices for the latest deferred prosecution agreement. 

A press release issued by NeuroMetrix tells that "it has reached a resolution with the United States Department of Justice ("DOJ") and the Office of Inspector General ("OIG") of the United States Department of Health and Human Services regarding the previously-disclosed investigation into certain of the Company's past sales and marketing practices relating to its NC-stat System." It looks like a 3.7 million dollar price tag as "the Company has agreed to a $1.2 million payment and the DOJ has agreed not to prosecute NeuroMetrix in return for compliance with the terms of the three-year Agreement." Additionally there is a "civil Settlement Agreement with the DOJ and OIG" for 2.5 million. 

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February 10, 2009 in Deferred Prosecution Agreements | Permalink | Comments (0) | TrackBack (0)

Monday, February 9, 2009

In the News & Around the Blogosphere

Jamie Olis moves to a half-way house today. 

The Steroids Scandal continues - here (Ronald Blum, AP- AJC, A-Rod admits using performance-enhancing drugs)

Mark Hamblett, NYLJ, law.com, N.Y. Attorney Convicted of Mortgage Fraud

Leo Strupczewski & Peter Hall, Legal Intelligencer, law.com, Rumors Abound That Alleged Case-Fixing Is Target of Pa. Probe

Tracy Green & Ann C. Scheider,  Real Estate Fraud -- Ten Individuals Indicted in San Diego Case Relating To Home Foreclosure Services

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February 9, 2009 in News | Permalink | Comments (0) | TrackBack (0)

Sunday, February 8, 2009

In the News & Around the Blogosphere