LEXINGTON, Ky. (Legal Newsline) — The U.S. Department of Justice announced Dec. 29 that General Cable Corporation will pay $20 million after allegations it made improper payments to government officials in Angola, Bangladesh, China, Indonesia and Thailand to gain business. Purported conduct of this nature violates the Foreign Corrupt Practices Act (FCPA).
“General Cable paid bribes to officials in multiple countries in a
scheme that involved a high-level executive of the company and resulted in
profits of more than $50 million worldwide,” said assistant attorney general Leslie Caldwell. “But General Cable also voluntarily self-disclosed this
misconduct to the government, fully cooperated and remediated. This resolution demonstrates the very real
upside to coming in and cooperating with federal prosecutors and investigators.
It also reflects our ongoing commitment to transparency.”
General Cable admitted some of its executives knew about the corrupt payments made by foreign
subsidiaries. The subsidiaries were paying off foreign officials to gain
business for the company. The conduct allegedly began in 2002, with corrupt
payments being made through 2013.
According to the department, the company's foreign
subsidiaries paid roughly $13 million in bribes over that time, which led to
$51 million in profits for General Cable.
“In 2015, international corruption squads across the country were formed
to address the national and international implications of foreign corruption,” said assistant director Stephen Richardson.
“This settlement is an example
of the exceptional efforts of those dedicated squads and investigators. The FBI looks forward to continuing to work
with our law enforcement partners to address corruption, no matter how big or