SEC Enforcement Actions: FCPA Cases

June 7, 2021

Enforcement of the Foreign Corrupt Practices Act (FCPA) continues to be a high priority area for the SEC. In 2010, the SEC's Enforcement Division created a specialized unit to further enhance its enforcement of the FCPA, which prohibits companies issuing stock in the U.S. from bribing foreign officials for government contracts and other business.

The following is a list of the SEC's FCPA enforcement actions listed by calendar year:

2024

  • AAR CORP., an Illinois-based global provider of aviation services and products, agreed to pay approximately $30 million in disgorgement and prejudgment interest to resolve FCPA anti-bribery, recordkeeping, and internal accounting controls charges arising out of conduct in Nepal and South Africa. Additionally, Deepak Sharma, a former senior executive at an AAR subsidiary, agreed to pay $184,597 in disgorgement and prejudgment interest, $130,835 of which was deemed satisfied by a forfeiture order with the U.S. Department of Justice, to resolve charges related to the same schemes. According to the SEC orders, from 2015 through 2018, Sharma orchestrated and implemented a bribery scheme to win a contract for the sale of two Airbus A330 aircraft, valued at approximately $210 million, to Nepal Airlines, a government-owned airline. According to the orders, Sharma was also involved in a bribery scheme involving a contract for AAR to provide aviation services to a subsidiary of government-owned South African Airways. (12/19/2024) SEC Order, (12/19/2024) SEC Order.
  • Cyril Cabanes - SEC charged a former director on the board of Azure Power Global Limited, a renewable energy company based in India, for his alleged role in authorizing bribes in connection with a massive bribery scheme to secure multi-billion-dollar energy projects for Azure and for another company, Adani Green Energy Limited. See Litigation Release for Complaints. (11/20/24)
  • BIT Mining Ltd., formerly known as 500.com Limited, agreed to pay a $4 million civil penalty to resolve charges that it violated the anti-bribery, recordkeeping, and internal accounting controls provisions of the FCPA from 2017 to 2019 by engaging in a widespread bribery scheme to influence numerous foreign officials, including members of Japan’s parliament, in efforts to establish an integrated resort casino in Japan. BIT Mining also agreed to pay a $10 million criminal fine to DOJ, of which $4 million will be satisfied by the company’s civil penalty payment to the SEC. The SEC’s order finds that the bribery scheme involved illicit payments of approximately $2.5 million in the form of cash bribes, entertainment, and extravagant trips. The order further finds that the bribes were authorized by a 500.com senior executive and that, after the bribery scheme came to light, the company never entered the integrated resort market. (11/18/24) SEC Order
  • RTX Corporation agreed to pay over $124 million in disgorgement, prejudgment interest and a civil penalty (to be offset by $22.5 million to be paid to DOJ) to resolve FCPA anti-bribery, recordkeeping, and internal accounting controls charges arising out of conduct in Qatar. This settlement concerns multiple schemes by Raytheon Company, now RTX Corporation (“Raytheon”), to obtain defense contracts in Qatar from 2015 through 2022, including Raytheon paying bribes to Qatari military and other foreign officials through sham subcontracts with a supplier. (10/16/2024) SEC Order
  • Moog Inc., a New York-based global manufacturer of motion controls systems for aerospace, defense, industrial, and medical markets, agreed to pay over $1.5 million in disgorgement, prejudgment interest and a civil penalty to resolve charges that it violated the books and records and internal accounting controls provisions of the FCPA arising out of bribes paid by its wholly owned Indian subsidiary, Moog Motion Controls Private Limited. The SEC alleges that from 2020 through 2022, Moog Motion Controls employees bribed Indian government officials to win multiple government contracts and also offered cash bribes to Indian officials in an attempt to cause public tenders in India to favor Moog’s products and exclude competitors. The order finds that the bribes were funneled through third-party agents and distributors. (10/11/2024) SEC Order
  • Deere & Company, which does business as John Deere, agreed to pay nearly $10 million in disgorgement, prejudgment interest and a civil penalty to resolve charges that it violated the books and records and internal accounting controls provisions of the FCPA arising out of bribes paid by its wholly owned subsidiary, Wirtgen Thailand. The SEC alleges that from at least late 2017 through 2020, Wirtgen Thailand employees bribed Thai government officials with the Royal Thai Air Force, the Department of Highways, and the Department of Rural Roads to win multiple government contracts and also bribed employees of a private company to win sales to that company. The order finds that the bribes included cash payments, massage parlor visits, and international travel for the government officials and private company employees. (9/10/24) SEC Order
  • SAP SE agreed to a settled C&D order for violating the anti-bribery, recordkeeping, and internal accounting controls provisions of the FCPA and to pay $98 million in disgorgement and PJI (to be offset by up to $59 million to be paid to South African authorities). SAP, through its wholly-owned subsidiaries, employed third-party intermediaries and consultants in various schemes to pay bribes to government officials in order to obtain business in South Africa, Malawi, Kenya, Tanzania, Ghana, Indonesia, and Azerbaijan. (1/10/24) SEC Order

Last Reviewed or Updated: Dec. 30, 2024