Pacific Strategies & Assessments

Effective sanctions and export controls compliance require more than automated checks. Human-led due diligence provides experience-based insight that automated tools cannot. At PSA, our tailored, investigative approach helps businesses make informed choices and maintain integrity across high-risk markets.   Click the link below to read our latest sanctions and export control case studies: https://lnkd.in/gtxiaZfx #PSABetterIntelligence #DueDiligence #Investigations #SanctionsCompliance #ExportControls #RiskManagement #EmergingMarkets #OilandGas #AircraftParts

On November 15, 2024, Croatia's Prime Minister Andrej Plenković fired Health Minister Vili Beroš following his arrest on suspicion of #corruption as part of a European Union #investigation. The European Public Prosecutor's Office (#EPPO) accused eight individuals, including Beroš and the directors of two hospitals, and two companies of accepting and giving #bribes, abuse of position and authority, and #moneylaundering. The suspects attempted to secure undue financial gains in a scheme involving the sale of medical robotic devices for several hospitals in #Croatia between June 2022 and November 2024. Beroš denies any criminal responsibility. #MedicalDevice #LifeSciences https://lnkd.in/eS4kgEsg

On November 14, 2024, the Department of the Treasury’s Office of the Foreign Assets Control (#OFAC) #sanctioned 26 companies, individuals, and vessels associated with the Al-Qatirji Company. It is a Syrian conglomerate that #exports Iranian #oil worth hundreds of millions of dollars to #Syria and East Asia, including the People’s Republic of #China. The proceeds that Al-Qatirji Company generates, most of which are being laundered through major cities such as Istanbul and Beirut, are used to finance #Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and the Houthis. Link: https://lnkd.in/ezZ2x5KH

On November 8, 2024, Telefónica Venezolana C.A. (“Telefónica Venezolana”), a subsidiary of the Spanish #telecommunications company Telefónica S.A., agreed to pay over USD 85.2 million to resolve a US Department of Justice investigation into an alleged scheme to #bribe Venezuelan officials. In 2014, Telefónica Venezolana was involved in a government-sponsored currency auction, bribing government officials to secure US dollars needed to maintain its position in the Venezuelan telecommunications market. Prosecutors charged Telefónica Venezolana with conspiring to violate the Foreign Corrupt Practices Act. https://lnkd.in/eExEZaJV #FCPA #DOJ #Venezuela

On November 11, 2024, the D.C. Council is considering expelling D.C. Ward 8 Councilman Trayon White Sr., despite his re-election, due to federal #bribery charges. The U.S. Department of Justice alleges that White accepted bribes totaling USD 156,000. According to the allegations, White used his position to secure D.C. contracts worth USD 5.2 million by pressuring government employees. If convicted, White could face up to 15 years in prison.   https://lnkd.in/eUaZf3_k #WashingtonDC #Corruption

On November 6, 2024, the San Diego Federal Court sentenced former defense contractor Leonard Glenn Francis to 15 years in prison and ordered him to pay more than USD 20 million for bribing dozens of U.S. Navy officers. U.S. District Judge Janis L. Sammartino also ordered Francis to forfeit his ill-gotten wealth, amounting to USD 35 million. Prosecutors indicated that Francis provided co-conspirators with more than USD 500,000 in cash and provided officers with travel expenses, luxury items, spa treatments, and other #bribes in exchange for classified information and assisting him in the #procurement process of contracts.   https://lnkd.in/eUAqSsEN #Navy #Corruption

On November 5, 2024, French financial prosecutors conducted searches at the offices of private equity firm CVC Capital Partners (“CVC”) and France’s #football governing body, Ligue de Football Professionnel (“LFP”). This is part of an #investigation into potential #corruption stemming from a 2023 complaint by the anti-corruption association AC | Anti-Corruption. The complaint concerns a deal in which CVC agreed to acquire a 13% stake in LFP Media, the commercial subsidiary of LFP, for an investment of EUR 1.5 billion (USD 1.6 billion). The investigation focuses on possible misuse of public funds, corruption of a public official, and unlawful #conflictofinterest. https://lnkd.in/ei8SqZMj #France #Sports

On October 31, 2024, the Orange County District Attorney announced that Orange County official Andrew Do has pleaded guilty to bribery for conspiring in a scheme involving the misuse of COVID-19 relief funds. Do received USD 550,000 in bribes to ensure that such relief funds were channeled through the Viet America Society, a non-profit organization focused on feeding the elderly and the disabled. Some of the federal funds received by the organization were spent on real estate, and only 15% of USD 9 million was actually spent on providing meals. Do has resigned from his post and will receive his sentence on March 31, 2025.    https://lnkd.in/eusJHJ2m #California #Bribery #Corruption

On October 21, 2024, former Albanian President Ilir Meta was arrested for alleged #corruption and #moneylaundering, following an order from Albania’s Special Anti-Corruption Structure (#SPAK). SPAK stated that Meta and his ex-wife Monika Kryemadhi, an Albanian politician, along with other public figures, are suspected of several criminal offenses, including passive #bribery of a senior official, money laundering, and false declaration of assets. If proven, these charges could lead to a prison sentence of up to 12 years. Meta’s party, the Freedom Party, condemned the arrest, labeling it as politically motivated. https://lnkd.in/essFzJx5 #Albania #Investigations

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