The Securities and Exchange Commission on Tuesday reached a $23.4 million settlement with General Electric over charges the company violated the Foreign Corrupt Practices Act. GE, along with two subsidiaries and two other companies that have since been acquired by GE, allegedly made illegal kickbacks totaling $3.6 million in the form of cash, computer equipment, medical supplies and services to the Iraqi Health Ministry or the Iraqi Oil Ministry in order to obtain contracts under the U.N
Just how much are bankruptcy lawyers and advisers making in the ongoing Lehman Brothers bankruptcy? Bloomberg reports that the $873.1 million in fees billed since the beginning of the case would quadruple the annual payroll of the New York Yankees
A judge’s order that defendants in a civil insider trading case turn over to the Securities and Exchange Commission wiretaps they obtained in discovery in their criminal case came under fire Thursday at the 2nd Circuit. A lawyer for Raj Rajaratnam and Danielle Chiesi, central figures in a wide-ranging insider trading prosecution that has already netted 11 guilty pleas, asked a three-judge panel to reverse New York federal Judge Jed Rakoff’s February order compelling production of the wiretaps.
Paris-based Technip SA, a service company for the oil and gas industry, is paying $338 million in civil and criminal penalties to settle claims that it worked with former Halliburton subsidiary KBR to bribe Nigerian officials and win $6 billion in contracts. The $338 million figure includes a $240 million criminal fine, plus a disgorgement of $98 million to resolve civil claims made by the Securities and Exchange Commission
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