Caveat Obsido: New Red Flag For Investors In Foreign Businesses.
Mondaq Business Briefing › Nbr. 2009, January 2009
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Caveat Obsido: New Red Flag For Investors In Foreign Businesses.
Introduction
The recent conviction of wealthy investor Frederic Bourke by a federal jury in New York reaffirms that the U.S. government's anti-corruption enforcement program, led by the Fraud Section of the Department of Justice, continues to push to the brink the limits of an already sweeping statute. The government argued that, although Bourke did not pay or direct the bribes, he was nonetheless guilty because he knew or should have known that bribes were being paid by others involved in the investment deal. The jury unanimously agreed.1 The Bourke case serves as both a reminder to investors in international deals (both individuals and businesses) that they are covered by the Foreign Corrupt Practices Act of 1977 (FCPA) and a warning shot to all that mere knowledge, ...See the full content of this document
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