In the light of the recent foreign bribery charges unsealed against Alstom executives, as reported on the Wall Street Journal, news and technology blog DigitalOlympus.com commented on the situation highlighting it as an important example of the U.S. Government's approach to Foreign Corrupt Practices Act violations.
Astoria, NY -- (SBWIRE) -- 04/19/2013 -- On April 17, popular news and technology blog DigitalOlympus.com commented on a recent Wall Street Journal article regarding the bribery charges against Alstom execs highlighting this situation as an example of how the Foreign Corrupt Practices Act (FCPA) is being severely enforced by the U.S. Government in an effort to keep American companies from making corrupt payments to foreign government officials.
According to a recent Wall Street Journal news story, the U.S. Justice Department arrested Frederic Pierucci (a current Alston subsidiary executive from France) at John F. Kennedy International Airport in New York last Sunday for his alleged involvement in a scheme to bribe government officials in Indonesia.
The article goes on to state that the Department of Justice “also revealed that a former Alstom executive, David Rothschild, pleaded guilty in November to charges emanating from the same bribery scheme.” These charges against Rothschild, former vice-president of sales at the subsidiary, were not unsealed until recently.
Responding to the Wall Street Journal piece, DigitalOlympus.com leading researcher Josh Cole said, “Since its adoption in 1977, the Foreign Corrupt Practices Act has undoubtedly been one of the priorities of the Justice Department, but the airport arrest of a French national illustrates just how aggressively the FCPA is being enforced.”
For the past three decades, the Foreign Corrupt Practices Act –a law that prohibits the payment of bribes to foreign government officials by U.S. based companies– has changed the landscape of American business so deeply that all researchers at DigitalOlympus.com urge their readers to always conduct detailed due diligence investigations before venturing into international markets.
The Wall Street Journal article concluded that although “Alstom has been the subject of several international corruption probes”; the company has successfully settled corruption-related charges before and it’s presently cooperating with the Department of Justice, the US Securities and Exchange Commission as well as U.K. authorities to comply with the Foreign Corrupt Practices Act.
As a news and technology blog, DigitalOlympus.com is committed to promoting the adoption of business intelligence and due diligence practices that can prevent bribery. The decision by the Justice Department to arrest a foreign citizen allegedly involved in overseas bribery can be seen as a crucial precedent for all American Companies operating abroad.
Digitalolympus.com is a news blog dedicated to educating its readers on the latest technology advances. They are committed to gathering information on up and coming technologies that will enhance the lives of their readership. Digitalolympus.com is always at the forefront of technology news and events guiding its readers to accurately determine the best course of action for themselves and their businesses.