Four Defendants Charged in Panama Papers Investigation for Their Roles in Panamanian-Based Global Law Firm’s Decades-Long Scheme to Defraud the United States

Four individuals have been charged in an indictment unsealed today in the Southern District of New York with wire fraud, tax fraud, money laundering and other offenses in connection with their alleged roles in a decades-long criminal scheme perpetrated by Mossack Fonseca & Co. (“Mossack Fonseca”), a Panamanian-based global law firm, and related entities read more »

Medtronic to pay $51 million to resolve U.S. medical device probes

Medtronic Plc said on Tuesday it would pay $50.9 million to resolve U.S. Justice Department probes into how companies it later acquired marketed medical devices, including one meant to treat a vascular defect in the brain.

As part of the accord, ev3 Inc, which Medtronic now owns, will pay $17.9 million and plead guilty to a charge related to its marketing of a neurovascular medical device for unproven and potentially dangerous uses, federal prosecutors in Boston said. read more »

Glencore, Trafigura, Vitol bribed Petrobras staff: Brazil prosecutors

Trading giants Vitol, Trafigura and Glencore paid over $30 million in bribes to employees at state-owned oil company Petroleo Brasileiro SA, Brazil prosecutors said on Wednesday, in a graft scheme they believe is ongoing.

Top executives of the international companies had “total and unequivocal” knowledge of the graft scheme, which began in 2009, investigators said at a news conference in Brazil, adding that the details being made public were just the “tip of the iceberg.” read more »