SEC Settles Charges Against Former Portland Steel Executive for Anti-Bribery Statute Violations
29 June 2007
In June 2007, the SEC filed a settled civil enforcement action against Si Chan Wooh, a former executive of Schnitzer Steel Industries, Inc., for violating the anti-bribery provisions of the FCPA. Per the complaint, between 1999-2004 Wooh made over $200,000 in improper payments to managers of state-owned Chinese steel mills to induce them to purchase company product. Based on this conduct, Wooh agreed to pay approximately $40,000 in combined fines and penalties. In October 2006, Schnitzer Steel settled related FCPA charges by agreeing to pay approximately $15 million in combined fines and penalties.
- View the full summary from the U.S. Securities and Exchange Commission.
-
View the Information (United States of America v. Si Chan Wooh).
Related Insights
13 September 2024
IP Litigation Current
Federal Circuit Says No Timing Requirement To Qualify As A POSITA
Share on TwitterShare by EmailShareBack to topLast week, in Osseo Imaging, LLC v. Planmeca USA Inc., No. 2023-1627 (Fed. Cir. Sept. 4, 2024)
September 24, 2024
Events
Do You Have AI Blind Spots in Your Licensing Agreements? Revisiting the Past, Considering the Present, and Planning for the Future
On Tuesday, September 24, Foley Partner Andrew Gross will speak on the panel “Do You Have AI Blind Spots in Your Licensing Agreements?
12 September 2024
Manufacturing Industry Advisor
Cybersecurity in the Age of Industry 4.0 – Part 1
As the manufacturing sector continues to embrace the hyper-connected era of Smart Manufacturing, known as Industry 4.0, more and more organizations are integrating advanced automation, artificial intelligence, the Internet of Things, and other cutting-edge innovations into their operations.