Lessons From SEC's Bribery Claim Against Ex-Goldman Exec

Law360 (May 19, 2020, 4:01 PM EDT) -- On April 13, the U.S. Securities and Exchange Commission brought an enforcement action under the Foreign Corrupt Practices Act against Asante Berko, a former executive of a U.K. subsidiary of Goldman Sachs Group Inc., for allegedly coordinating a bribery scheme to help a client of the subsidiary win a contract to build and operate an electrical power plant in Ghana.[1]

According to the complaint, although an intermediary paid multiple bribes to secure the business, Goldman's compliance division ended the bank's involvement in the deal based on concerns about that intermediary. The SEC did not charge either Goldman entity, noting in its...

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