• Agribusiness: The Next Frontier for Enforcement of the Foreign Corrupt Practices Act?
  • April 15, 2013 | Author: Edward T. Kang
  • Law Firm: Alston & Bird LLP - Washington Office
  • In recent years, the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have aggressively enforced the anti-bribery and accounting provisions of the Foreign Corrupt Practices Act (FCPA), targeting industries as wide-ranging as energy, health care and Hollywood. The results of these efforts have been staggering. Since 2009, DOJ and the SEC have entered into more than 50 settlements and plea agreements with companies, yielding a total of more than $2 billion in penalties. Individuals have not been spared: in 2011, the former president of a Floridabased telecommunications company was sentenced to 15 years in prison for his role in a scheme to bribe Haitian government officials, the longest sentence ever in an FCPA case.