Maryland Company Settles FCPA Case

By on March 20, 2018

March 20, 2018

Transport Logistics International Inc. (TLI), charged with conspiracy to violate the Foreign Corrupt Practices Act’s anti-bribery provisions, agreed Tuesday to pay a $2 million fine and enter into a three-year deferred prosecution agreement to resolve the case. The DOJ set the fine based in part on the company’s “financial inability to pay the penalty” that would be due under sentencing guidelines. TLI received “full credit for its substantial cooperation,” including firing all employees engaged in the misconduct. Three individuals have been charged. Vadim Mikerin, a Russian official who resided in Maryland, is serving a four-year prison sentence for taking bribes. Daren Condrey, co-president of TLI, pleaded guilty in 2015 to conspiracy to violate the FCPA and commit wire fraud. He’s waiting to be sentenced. Mark Lambert, the other co-president has been charged with multiple FCPA, wire fraud and money laundering charges. According to the DOJ, Condrey, and Lambert allegedly paid Mikerin $2 million in bribes to award uranium transportation contracts to TLI. The bribe money was moved from the United States to shell company accounts in Cyprus, Latvia, and Switzerland.
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