Glencore, the world’s largest commodity corporation, is suspected of corruption in the Democratic Republic of the Congo and is expected to be sued on that basis. A Glencore subsidiary is said to have paid $ 6 million annually since 2013 to a company in the Democratic Republic of the Congo, on a quid pro quo basis. ... →
The former head of the Chinese division of GlaxoSmithKline has been charged with corruption in connection with the unraveling bribery scandal in which GSK paid off doctors and government officials. In the past six years Mark Reilly and some of his associates allegedly spent an approximate sum of $480million on hospitals and its employees, in order to increase the sales of GSK pharmaceuticals. ... →
Once again European Banks have been threatened with large fines due to misconduct. The ‘Wall Street Online’ reports that investigations against BNP Paribas have been ongoing since 2009. The Manhattan District Attorneys Office as well as the Federal Prosecutor are united against the European bank who is said to have violated US sanctions against Iran, Cuba and Sudan. ... →
The British pharmaceutical giant GlaxoSmithKline (GSK) has reached an agreement with 44 U.S. states and the District of Columbia to pay a fine of 105 million dollars. the fine at that time was $ 3 billion which set a new record for fines levied within the pharmaceutical industry.
The agreement also includes the requirement that performance bonuses to sales staff from GSK, as well as paying doctors for the promotion of drugs, are prohibited. ... →