Former Valve Co. Exec Pleads Guilty In FCPA Case

Law360, New York (April 29, 2011, 2:19 PM EDT) -- A former executive of valve maker Control Components Inc. pled guilty in a California federal court Friday to charges he conspired to bribe officers and employees of state-owned energy companies in Qatar, Saudi Arabia and elsewhere for supply contracts.

Flavio Ricotti, of Bientina, Italy, copped to one count of conspiracy to violate the Foreign Corrupt Practices Act and the Travel Act. He faces up to five years in prison and a $250,000 fine. His alleged co-conspirators — four other former CCI executives — are scheduled to...
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