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Weekly Roundup: Delaware Corporation Pays $40 Million for FCPA and Sanctions Violations, Guatemala Approves Extradition of Former President, and More
printTwo U.S. companies shelled out a total of $200 million dollars to regulators this week for anti-money laundering (AML) and sanctions violations. On Wednesday, Wells Fargo Co. agreed to pay the United States $160 million–the largest ever AML-related fine-over widespread compliance problems with Mexican currency exchange company accounts at its subsidiary Wachovia Bank. More The next day, Innospec, Inc. agreed to pay $40 million to U.S. and U.K. regulators for violations of the Foreign Corrupt Practices Act and U.S. sanctions against Cuba. The Newark, DE-based chemical company admitted in the U.S. District Court of Columbia to defrauding the United Nations...
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