{"id":317,"date":"2011-07-13T14:38:17","date_gmt":"2011-07-13T14:38:17","guid":{"rendered":"http:\/\/www.whistleblowerlawyerblog.com\/2011\/07\/sec_charges_fcpa_bribery_schem.html"},"modified":"2021-06-11T17:46:17","modified_gmt":"2021-06-11T21:46:17","slug":"sec_charges_fcpa_bribery_schem","status":"publish","type":"post","link":"https:\/\/www.finchmccranie.com\/whistleblower-blog\/sec_charges_fcpa_bribery_schem\/","title":{"rendered":"SEC Charges FCPA Bribery Scheme–Feds Collect $15 Million"},"content":{"rendered":"

The SEC Whistleblower Program encompasses not only classic securities violations, but also violations of the Foreign Corrupt Practices Act (“FCPA”), a topic we have followed closely.<\/a> <\/p>\n

This past week, the SEC filed and settled an FCPA case against Armor Holdings, Inc., and collected more than $5.6 million, while the Department of Justice added almost $10.3 million in criminal fines.<\/p>\n

The SEC charged that Armor Holdings, Inc. engaged in a bribery scheme to sell body armor to U.N. peacekeeping missions. The Commission also alleged that Armor Holdings violated the federal securities laws’ books and records and internal controls provisions by failing to account properly for commissions in 2001-2007.<\/p>\n

Demonstrating the SEC’s increased emphasis on FCPA enforcement, this case is one of 32 FCPA cases the Commission has filed since 2010. Bribery of foreign government officials for business is having increased repercussions.<\/p>\n

According to the SEC’s Complaint, through a U.K. subsidiary Armor Holdings paid more than $200,000 through an intermediary to a United Nations official who could send it business, and used a sham consulting agreement to disguise its actions. The result was more than $7 million in additional revenues, and more than $1.5 million in additional profits, according to the SEC.
\n Continue reading \u2192<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The SEC Whistleblower Program encompasses not only classic securities violations, but also violations of the Foreign Corrupt Practices Act (“FCPA”), a topic we have followed closely. This past week, the SEC filed and settled an FCPA case against Armor Holdings, Inc., and collected more than $5.6 million, while the Department of Justice added almost $10.3 […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,22],"tags":[],"class_list":["post-317","post","type-post","status-publish","format-standard","hentry","category-sec-whistleblower-program-cftc-whistleblower-program","category-sec-whistleblower-program-foreign-corrupt-practices-act-fcpa-cases"],"yoast_head":"\nSEC Charges FCPA Bribery Scheme--Feds Collect $15 Million — Whistleblower Lawyer Blog — July 13, 2011<\/title>\n<meta name=\"description\" content=\"The SEC Whistleblower Program encompasses not only classic securities violations, but also violations of the Foreign Corrupt Practices Act ("FCPA"), a — July 13, 2011\" \/>\n<meta name=\"robots\" content=\"index, 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