Former Executive Gets Jail Time for Conspiracy to Bribe Foreign Officials
The Department of Justice reports that a former regional director of a technology company has been sentenced to 22 months in prison for violating the Foreign Corrupt Practices Act. The man admitted that he conspired with others to bribe Panamanian government officials to secure a multimillion-dollar contract and that the conspirators used sham contracts and false invoices to disguise the true nature of the bribes. The executive’s company benefited from initial and subsequent contracts awarded by the Panamanian government and the man himself personally received over $85,000 in kickbacks for arranging the bribes.
Earlier this year the man settled a parallel Securities and Exchange Commission investigation by agreeing to, among other things, pay disgorgement of $85,965 plus prejudgment interest. DOJ states that for this reason it did not request, and the court did not order, forfeiture in the criminal action.