& Co. said it had received a subpoena from the Department of Justice’s Foreign Bribery Division, making it the latest firm to be caught up in a large-scale investigation into corruption at Ecuador’s state-owned company.
The Rolling Meadows, Illinois-based insurance broker revealed the subpoena in its quarterly financial report this week. According to Arthur J. Gallagher, the request for information the company received in the third quarter came from the Department of Justice’s Foreign Corrupt Practices Division.
Prosecutors from that unit have asked Arthur J. Gallagher for information related to his insurance business with Ecuador’s public sector, the company said in a Nov. 2 report.
The FCPA is an anti-bribery law that prohibits companies with U.S. ties from paying bribes to foreign public officials to gain business advantages. This law is enforced by the Department of Justice and the U.S. Securities and Exchange Commission.
Justice Department’s FCPA unit pursues years of investigation into corruption at state-owned Latin American companies in multi-agency effort that has led to dozens of indictments against Ecuadorian and Venezuelan businessmen and current and former government officials I’ve been
A spokesperson for Arthur J. Gallagher did not immediately respond to a request for comment. In its filing, the company said it is cooperating with the government’s investigation and does not expect the investigation to result in material losses.
A Justice Department spokesman declined to comment on the disclosure.
A recent Justice Department investigation focused on Ecuador’s state-run insurance company. Division in July indict three men He is said to have conspired to pay bribes to officials of Seguros Sucre SA and Seguros Rocafuerte SA.
The charges were: Indictment opened in March Former Ecuadorian Commissioner Carlos Ramón Porritto Fagioni has been accused of using the US financial system to launder the proceeds of an illegal bribery scheme. In one scheme described by prosecutors, Politto allegedly accepted bribes from Ecuadorian businessmen to help him obtain a contract with Seguros Sucre.
The allegations surrounding Seguros Sucre also involve the currently owned insurance broker.
In an open letter to Jardine Lloyd Thompson Group Holdings in March, prosecutors said they found evidence that the company paid more than $10 million to a Florida-based broker. rice field. Sign a contract with Seguros Sucre.
In a letter, the Justice Department said: refuse to prosecute Jardine Lloyd Thompson cites the company’s decision to voluntarily report the issue and strengthen its compliance program.
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