Glencore International A.G. and Glencore Ltd., which are part of a commodity trading and mining firm based in Baar, Switzerland, have admitted their guilt in sprawling schemes of foreign bribery and market manipulation that led to market advantages but also scandal, plea bargains, and a billion-dollar fine. Among many authorities across the globe, the complex… Read More >>
Julius Baer Laundered Money to Support Bribery Scheme
As expected, private Swiss firm Bank Julius Baer & Co. Ltd. (BJB) is resolving a criminal case with the U.S. Justice Department by paying a fine and penalties that are more than double what the bank admits to laundering. The full amount BJB will pay is $79.7 million. The bank has also admitted its role… Read More >>
Julius Baer & DoJ Resolve FIFA Case for $79M
Swiss private bank Julius Baer reports that it has reached a $79.7 million settlement with the U.S. Department of Justice resolving a money-laundering probe involving the Zurich-based world soccer group, Fédération Internationale de Football Association (FIFA). The U.S. settlement follows actions by the Swiss financial services regulator to close its case against the bank. Justice… Read More >>
JPMorgan Chase Penalized $264M for Bribery-Hiring Scheme
JPMorgan Chase & Co. will pay more than $130 million to settle SEC charges that “it won business from clients and corruptly influenced government officials in the Asia-Pacific region (APAC) by giving jobs and internships to their relatives and friends in violation of the Foreign Corrupt Practices Act (FCPA),” the commission says. In addition, JPMorgan… Read More >>
Och-Ziff Pays $412M in Fines to Settle Bribery Charges
Alternative investment and hedge fund manager Och-Ziff Capital Management Group will be paying $412 million in fines and has begun revamping internal procedures as a result of the bribery and operational mismanagement charges brought against it. On Thursday, the firm announced that it has settled criminal and civil cases with the U.S. Department of Justice… Read More >>
