US Can't Try Foreign Execs For Offshore Bribery, Defense Says

Law360, New York (October 12, 2012, 9:05 PM EDT) -- The U.S. Securities and Exchange Commission cannot haul foreign companies' executives into court over actions alleged to have occurred overseas, lawyers for Hungary's Magyar Telekom PLC executives accused of bribery told a New York federal judge Friday.

U.S. courts do not have jurisdiction to try former Magyar Telekom CEO Elek Straub and former executives Andras Balogh and Tomas Morvai on claims that they bribed officials in Macedonia and Montenegro in a scheme to win contracts, said William Sullivan Jr. of Pillsbury Winthrop Shaw Pittman LLP, a...
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