Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
In the Courts
New Charges in Insurance Corporation of Barbados Limited Bribery Case
The Department of Justice's (DOJ) investigation into Insurance Corporation of Barbados Limited (ICBL) for violations of the Foreign Corrupt Practices Act (FCPA) ended with an Aug. 23, 2018 declination. According to the published declination, the DOJ identified $36,000 in bribes paid by ICBL agents and employees between August 2015 and April 2016 to a Barbadian government official in exchange for insurance contracts. Donville Inniss — then-member of the Parliament of Barbados and the Minister of Industry, International Business, Commerce, and Small Business Development of Barbados — was paid bribes to ensure that ICBL was awarded two government insurance contracts. Inniss then hid the ICBL bribe money by laundering it through a United States dental office that belonged to his friend. The money flowed through a New York bank account in the name of his friend to a Florida bank account in Inniss's name.
The ICBL declination was the first under the DOJ's November 2017 Corporate Enforcement Policy, which “provid[es] additional benefits to companies based on their corporate behavior once they learn of misconduct,” including a declination when the company satisfies voluntary self-disclosure, full cooperation, and timeline and appropriate remediation. In its declination letter, the DOJ noted ICBL's timely self-disclosure; comprehensive internal investigation; cooperation with the government's investigation; compliance program enhancements; remediation, including terminating ICBL executives/employees involved in the scheme; and identification of culpable employees such that DOJ could pursue and charge these individuals. Pursuant to the Corporate Enforcement Policy, ICBL was required to disgorge $93,940.19, the profits illegally earned as a result of the bribery scheme.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.