Justice Department: Major investment firm agrees to pay $64.2 million in Libyan bribery scheme

By Mark Iandolo | Jun 11, 2018

WASHINGTON (Legal Newsline) —The U.S. Department of Justice announced June 4 that Legg Mason Inc., an investment management firm with headquarters in Maryland, will pay $64.2 million after allegedly participating in a bribery scheme in Libya in violation of the Foreign Corrupt Practices Act (FCPA). Legg Mason also agreed to enter into a non-prosecution agreement.

Acting assistant attorney general John P. Cronan of the Justice Department’s Criminal Division made the announcement of the settlement, along with U.S. attorney Richard P. Donoghue of the Eastern District of New York, assistant director in charge William F. Sweeney Jr. of the FBI New York Field Office and deputy chief Eric Hylton of IRS' criminal investigation. 

Handling the case for the Justice Department are trial attorneys Dennis R. Kihm and Gerald M. Moody Jr. of the Criminal Division’s Fraud Section and assistant U.S. attorneys David C. Pitluck and James P. McDonald of the Eastern District of New York.

Assisting in the case are the U.S. Securities and Exchange Commission, France’s Parquet National Financier, the United Kingdom’s Serious Fraud Office, and Switzerland’s Office of the Attorney General and Federal Office of Justice. 

Want to get notified whenever we write about U.S. Department of Justice ?

Sign-up Next time we write about U.S. Department of Justice, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

U.S. Department of Justice

More News

The Record Network