After years of explosive growth in the number of Foreign Corrupt Practices Act enforcement actions, the pace looks to have fallen off in the first half of 2011. But don’t expect the slowdown to last.
The Department of Justice on Wednesday announced a non-prosecution agreement with Florida-based Armor Holdings Inc. in which the company admitted to funneling bribes to a United Nations official to secure contracts to supply body armor to U.N. peacekeepers. As part of the agreement, Armor will pay more than $10 million in fines to the DOJ and $5.7 million in disgorgement and penalties to the SEC. A former Armor Holdings employee, Richard Bistrong, pleaded guilty in 2009 to related charges.
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