Monday, April 29, 2013

Foreign Corrupt Practices Act Whistleblower Rewards by Confidential Foreign Corrupt Practices Act Whistleblower Lawyer Jason S. Coomer

Foreign Corrupt Practices Act Whistleblowers Can Received Large Financial Rewards For Exposing International Bribes, Illegal Kickbacks, Slush Funds, and other Illegal Activities by International Foreign Corrupt Practices Lawyer Jason S. Coomer

The Foreign Corrupt Practices Act and the new SEC Whistleblower Incentive Program work together to reward whistleblowers with original and specialized knowledge and evidence of international business corporate bribery and illegal kickbacks.  These new international business whistleblower reward laws are part of a worldwide movement to expose and punish government corruption such as contract bribes, illegal kickbacks, and large scale international fraud.  These Foreign Corrupt Practices Act should help prevent government corruption in many countries including Russia, China, Mexico, and Brazil.

For more information on this topic, please go to the following web page:  International Business Bribery Whistleblower Reward Lawyer.

Sunday, April 28, 2013

Parker Drilling Company (Release No. LR-22672; April 16, 2013)

Parker Drilling Company (Release No. LR-22672; April 16, 2013)

SEC Charges Parker Drilling Company with Violating the Foreign Corrupt Practices Act

The Securities and Exchange Commission today charged Parker Drilling Company, a worldwide drilling services and project management firm, with violating the Foreign Corrupt Practices Act (FCPA) by authorizing improper payments to a third-party intermediary retained to assist the company in resolving customs disputes.

The SEC's complaint, filed in federal district court in Alexandria, Virginia, alleges that in 2004 Parker Drilling authorized payments to a Nigerian agent totaling $1.25 million. The company did so despite former senior executives knowing that the agent intended to use the funds to "entertain" Nigerian officials involved in resolving Parker Drilling's ongoing customs problems. Following the Nigerian agent's work, the company received an unexplained $3,050,000 reduction of a previously assessed customs fine, and the company was permitted to nationalize and sell its Nigerian rigs.

To settle the SEC's charges, Parker Drilling will pay disgorgement of $3,050,000 plus pre-judgment interest of $1,040,818. Parker Drilling consented to the entry of a final judgment permanently enjoining it from violating Sections 30A, 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act. The proposed settlement is subject to court approval.

In the parallel criminal proceedings, the Department of Justice entered into a Deferred Prosecution Agreement with Parker Drilling in which the company will pay an $11,760,000 penalty.

International Oil Company Employee Whistleblowers Can Earn Large Rewards for Exposing Fraud and Violations of SEC Laws

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, all domestic and foreign companies registered with the U.S. Securities and Exchange Commission (SEC) must publicly report how much they pay governments for access to their oil, gas and minerals, beginning in FY2012. These payments must be reported on a country-by-country and a project-by-project basis, and will likely cover a wide range of the material benefits that accrue to governments from extractive deals.  This Dodd-Frank reporting requirement, known as the Cardin-Lugar Transparency Amendment is expected to help remove corruption from the oil and gas mineral extraction industry.

International Oil Company Bribes and other FCPA violations as well as , International Oil Company False Reports and other SEC violations are forms of fraud that can result in whistleblower bounty actions, shareholder lawsuits, and several other types of litigation.  Petroleum employees including petroleum accountants, petroleum executives, and other oil company employees with original information of significant oil company fraud, international oil lease bribes to government officials, and other illegal conduct a large oil company may be able to collect a large reward through several whistleblower laws.

The key to obtaining a large whistleblower award is to make sure that as the international oil company whistleblower you are the first to file with sufficient evidence of significant fraud.  For more information on confidentially having your case reviewed, please go to the following web page: International Oil Company Whistleblower Reward Lawsuits