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Six Indicted for Bribing Government Officials in India to Mine Titanium Minerals

Friday, April 04, 2014
Sandler, Travis & Rosenberg Trade Report

The Department of Justice announced April 2 a federal indictment charging six foreign nationals with participating in an alleged international racketeering conspiracy involving bribes of state and central government officials in India to secure licenses to mine titanium minerals. This mining project was expected to generate more than $500 million annually, including sales to an unnamed company headquartered in Chicago.

The indictment alleges that the defendants used U.S. financial institutions to engage in the international transmission of millions of dollars in bribes, transferred and concealed bribe payments through an international conglomerate owned by a British Virgin Islands company, and used threats and intimidation to advance the interests of their illegal activities. All six defendants were charged with one count each of racketeering conspiracy and money laundering conspiracy as well as two counts of interstate travel in aid of racketeering. Five were also charged with one count of conspiracy to violate the Foreign Corrupt Practices Act.

DOJ is seeking forfeiture of more than $10.6 million from all six defendants should they be found guilty.

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