The Corruption Files

By: Thomas Fox
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  • Summary

  • What is stranger than fiction? The stories of worldwide corruption. In this podcast series, co-hosts Tom Fox, the Voice of Compliance and Mike DeBernardis, partner at Hughes Hubbard will detail some of the most audacious corruption cases from the modern era of anti-corruption enforcement. More importantly, they will discuss the lessons learned on what your organization can do to prevent running afoul of international anti-bribery laws.
    Thomas Fox
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Economics Management Politics & Government
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Episodes
  • The Corruption Files Introduction

    The Corruption Files Introduction
    Jun 28 2022
    This is Tom Fox. I'd like to welcome you to an exciting new podcast series that I'm premiering on the Compliance Podcast Network, The Corruption Files, together with my co-host Thomas Fox and Michael DeBernardis, an artist partner at Hughes Hubbard & Reed LLP. We're going to be taking a look at some of the top corruption enforcement actions in the United States and beyond.  In our first five episodes, we're going to focus on some key industries inside the United States, which had important FCPA actions. We're going to focus on the background of each of the enforcement actions.  What did it mean from the prosecutorial perspective, from both the Department of Justice and the Securities and Exchange Commission? And then what did it mean at the time of the enforcement action? What does it mean today and what does it continue to mean for the compliance professional in the future?  I know you'll enjoy this great new series, The Corruption Files. Texas Tax rate at 80% of 8.25%
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    1 min
  • Energy Violations and the Panalpina Settlements with Tom Fox and Michael DeBernardis

    Energy Violations and the Panalpina Settlements with Tom Fox and Michael DeBernardis
    Jul 12 2022
    Thomas Fox and Michael DeBernardis discuss energy cases considered FCPA violations, highlighting Panalpina Settlement Day, the uncovered bribery methods, and its implications on the future of compliance, the written policies, and the solutions to commerce and transactions in higher-risk jurisdictions.  ▶️ Energy Violations and the Panalpina Settlements with Thomas Fox and Michael DeBernardis Key points discussed in the episode: ✔️ Tom Fox introduces the cases involving Shell, Transocean, Tidewater, Pride International, and Noble. ✔️ Michael DeBernardis describes the company’s methods as a hub-and-spoke arrangement and lays out the Department of Justice’s investigative process. The case has planted the seeds of the pilot program and corporate enforcement policy. The DOJ has become more deliberate in announcing settlements ✔️ Due diligence requires visibility across all aspects of the business. Thomas Fox shares a snippet of advice from a shipping company executive: “If you have a vendor with a 100% success rate, you have a problem.” Any business model based on bribery and corruption never ends well. ✔️ Panalpina’s methods were an open secret across other energy companies, designing ways to circumvent Nigerian customs. Monitoring during this time was less rigorous. ✔️ Due diligence is an ongoing process of improvement. High-risk jurisdictions for particular transactions are now thrown at the forefront. ✔️ Companies outside of the oil and gas industry have started to reconsider their strategies in high-risk areas. The solution is not to stop doing business completely but to work with companies that do compliance. ---------------------------------------------------------------------------- Do you have a podcast (or do you want to)? Join the only network dedicated to compliance, risk management, and business ethics, the Compliance Podcast Network. For more information, contact Tom Fox at tfox@tfoxlaw.com. Texas Tax rate at 80% of 8.25%
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    25 mins
  • Uncovering the Hidden Schemes in Pharma with Tom Fox and Michael DeBernardis

    Uncovering the Hidden Schemes in Pharma with Tom Fox and Michael DeBernardis
    Jul 19 2022
    Tom Fox and Michael DeBernardis shed light on the bribery schemes highlighted in the cases of Eli Lilly, Fresenius, and Teva and present the prosecutorial investigation, the questionable donations and expenses, preventative measures for companies to implement, and practicing due diligence to minimize risk. ▶️ Uncovering the Hidden Schemes in Pharma with Thomas Fox and Michael DeBernardis Key points discussed in the episode: ✔️ Thomas Fox introduces the cases involving Eli Lilly, Fresenius, and Teva. ✔️ Michael DeBernardis breaks down the DOJ and SEC’s investigative process in uncovering Eli Lilly’s bribery schemes – by looking into other companies from similar industries and asking the pressing questions. ✔️ Thomas Fox describes the bribes made: money going to hospitals and to the doctors and nurses directly, sending individuals to five-star resorts for fake conferences and speeches, and paying for articles that were never published. Any prior SCC reinforcement action is already a red flag. ✔️ The Eli Lilly case has made companies warier of working with government officials as a Polish state-owned health organization was involved. Also, the intent of the fraudulent talks and events was fairly obvious from a prosecutorial perspective. ✔️ Michael DeBernardis and Thomas Fox share advice on how companies should approach charitable donations: Know where your money is going, do background checks on the receiving organization and publicize all donations. ✔️ Eli Lilly’s exceeding discount for a certain distributor was pushed to the spotlight. Overriding internal controls requires documenting for a business reason. Most due diligence problems can be solved by looking closer at business justifications. ---------------------------------------------------------------------------- Do you have a podcast (or do you want to)? Join the only network dedicated to compliance, risk management, and business ethics, the Compliance Podcast Network. For more information, contact Tom Fox at tfox@tfoxlaw.com. Texas Tax rate at 80% of 8.25%
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    23 mins

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