Saudi Arabia Corruption, Market Manipulation, Bribery Schemes, Sanction Violations, and Other Illegal Conduct Can Be The Bases of CFTC and SEC Bounty Actions That Pay Large Financial Rewards To International Professional Who Anonymously Expose Illegal Contact by Saudi Arabia Whistleblower Reward Lawyer and Saudi Arabia Market Manipulation Lawyer Jason S. Coomer
The United States has several Whistleblower Reward Laws that offer large financial rewards to Saudi Arabian professionals and other international professionals who properly expose oil and gas market manipulation schemes, sanction violations, and other types of international illegal conduct. These laws are designed to pay large financial rewards to international professionals, high end investors, and other individuals with original knowledge of significant illegal conduct. Further, these laws offer signficant whistleblower protections including allowing whistleblowers to expose illegal conduct anonymously through a lawyer based in the United States. Numerous different types of illegal schemes can be the basis of bounty actions and other whistleblower rewards including market manipulation schemes, money laundering, investment fraud schemes, bribery schemes, accounting fraud, and violations of the Foreign Corrupt Practices Act.
If you are aware of illegal international trade practices including violations of the Foreign Corrupt Practice Act (FCPA) by a large corporations, please feel free to contact Saudi Arabia Whistleblower Reward Lawyer Jason Coomer via e-mail message or use our submission form for a confidential review of a Saudi Arabia Whistleblower Reward Bounty Action.
Bribes by Multinational Corporations Originating In or From Saudi Arabia Can Be The Bases of Large Bounty Actions That Pay Large Financial Rewards
The SEC and CFTC are targeting Multinational Corporations that pay illegal kickbacks and bribes to Saudi Arabian government officials and former government officials in exchange for construction contracts, mining contracts, drilling contracts, public health care pharmaceutical contracts, customs false certifications through Middle Eastern ports, and other international business advantages. Further, large multinational corporations publicly traded in the US financial markets are also subject to anti-bribery laws in the United States which pay large financial rewards. These rewards can be collected anonymously by professionals who are represented by a lawyer based in the Unites States. The Whistleblower must have original information regarding significant bribes or other illegal conduct and be the first to file regarding the illegal scheme to qualify for rewards.
Saudi Arabia Bribery Schemes and Other Illegal Conduct Can Be The Basis For Large Bounty Actions
Many multinational companies bidding for government contracts in Saudi Arabia face a high risk of corruption and are required to maintain proper compliance controls to prevent bribery of government officials and other violations of the Foreign Corrupt Practices Act. Multinational companies that intentionally fail to implement proper compliance controls and/or intentionally violate the Foreign Corrupt Practices Act including accounting fraud can be fined large amounts of money for these violations. Further, international professionals that have original information of these violations and who properly report these violations can receive large rewards for properly exposing these illegal acts. By working through a lawyer, these international professionals can protect their identity while having their case reviewed and in some instances anonymously collect large financial rewards through a lawyer.
In Saudi Arabia abuse of power, nepotism and the use of middlemen (wasta) to do business are particularly common. These common illegal actions can be the basis of large bounty actions. Further, the overlap between business and politics combined with the patronage system in Saudi Arabia make the country a ripe environment for bribery scheme. The Combating Bribery Law and the Civil Service Law criminalize various forms of corruption, including active and passive bribery (baksheesh) and abuse of functions. These violations of Saudi Arabian law can be the basis of large bounty actions that pay large whistleblower rewards.
Saudi Arabia Bribery Schemes and Sanction Violations Can Be The Basis For Large SEC and CFTC Bounty Actions as well as Other Whistleblower Reward Lawsuits
Three Subsidiaries of Weatherford International Limited Agree to Plead Guilty to FCPA and Export Control Violations Weatherford International and Subsidiaries Agree to Pay $252 Million in Penalties and Fines. Three subsidiaries of Weatherford International Limited (Weatherford International), a Swiss oil services company that trades on the New York Stock Exchange, have agreed to plead guilty to anti-bribery provisions of the Foreign Corrupt Practices Act (FCPA) and export controls violations under the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA). Weatherford International and its subsidiaries have also agreed to pay more than $252 million in penalties and fines. Acting Assistant Attorney General Mythili Raman of the Justice Department Criminal Division, U.S. Attorney Kenneth Magidson of the Southern District of Texas, and Assistant Director in Charge Valerie Parlave of the FBI's Washington Field Office made the announcement.
Weatherford Services Limited (Weatherford Services), a subsidiary of Weatherford International, today agreed to plead guilty to violating the anti-bribery provisions of the FCPA. As part of a coordinated FCPA resolution, the department today also filed a criminal information in U.S. District Court for the Southern District of Texas charging Weatherford International with one count of violating the internal controls provisions of the FCPA. To resolve the charge, Weatherford International has agreed to pay an $87.2 million criminal penalty as part of a deferred prosecution agreement with the department.
"Effective internal accounting controls are not only good policy, they are required by law for publicly traded companies-and for good reason," said Acting Assistant Attorney General Raman. "This case demonstrates how loose controls and an anemic compliance environment can foster foreign bribery and fraud by a company's subsidiaries around the globe. Although Weatherford's extensive remediation and its efforts to improve its compliance functions are positive signs, the corrupt conduct of Weatherford International's subsidiaries allowed it to earn millions of dollars in illicit profits, for which it is now paying a significant price."
Tyco Valves & Controls Middle East Inc. (TVC ME) - an indirect, wholly owned subsidiary of Tyco that sold and marketed valves and other industrial equipment throughout the Middle East for the oil, gas, petrochemical, commercial construction, water treatment and desalination industries - pleaded guilty this morning before U.S. District Judge Claude M.Hilton for conspiring to violate the anti-bribery provisions of the FCPA. According to the criminal information to which TVC ME pleaded guilty, the company paid bribes to officials employed by Saudi Aramco, an oil and gas company controlled and managed by the government of the Kingdom of Saudi Arabia, in order to obtain contracts with Saudi Aramco. In the parallel civil proceedings, Tyco consented with the SEC to a proposed final judgment that orders the company to pay $10,564,992 in disgorgement and $2,566,517 in prejudgment interest - which, together with the Department of Justice penalty, totals more than $26 million.
Bounty Action Rewards Are Based on the Amounts Recovered By The Government and Can Be Extremely Large
Corporations that pay illegal kickbacks and bribes to government officials and former government officials in exchange for contracts including large building projects can be brought to justice and made to pay large penalties under the Foreign Corrupt Practices Act and whistleblowers that bring these corporations to justice may be able to collect large economic rewards under the Securities Exchange Act (SEC Whistleblower Bounty Actions) and the Commodity Exchange Act (CFTC Whisteblower Bounty Actions).
The Illegal Bribe Whistleblower or Illegal Kickback Whistleblower may be entitled to not only the amount of the illegal bribe or kickback, but the benefit of the illegal bribe or kickback. In cases where $100,000.00 bribe is made to obtain a $100 million building project, the Illegal Bribe Whistleblower or Illegal Kickback Whistleblower may be entitled to 10 to 30% of the $100,000,000.00 and the $100,000.00 translating into a $10 million to $30 million award.
International Whistleblower Reward Lawyer Works with International Professionals and Other Lawyers Globally to Expose Corruption and Collect Financial Rewards For Whistleblowers
As an US Foreign Corrupt Practices Act Violation Lawyer, Jason S. Coomer commonly works with other powerful illegal international business contract bribe and whistleblower lawyers to handle large Multinational SEC Corporation Lawsuits.
If you are aware of illegal international trade practices including violations of the Foreign Corrupt Practice Act (FCPA) by a multinational corporation in Middle East, please feel free to contact International Business Whistleblower Reward Lawyer Jason Coomer via e-mail message or use our submission form.