Morvillo Abramowitz Partner Jonathan S. Sack Shares Insights On Freepoint Commodities LLC’s Settlements With The Department of Justice And Commodity Futures Trading Commission In The Anti-Corruption Report

August 30, 2024  |  Anti-Corruption Report

Morvillo Abramowitz partner, Jonathan S. Sack, was interviewed regarding Freepoint Commodities LLC’s settlements with the Department of Justice and Commodity Futures Trading Commission.

In “Obligations Linger Despite Freepoint’s Settlements with DOJ and CFTC,” a recent Anti-Corruption Report article, Jonathan Sack commented on the settlements, which resolved a charge of conspiracy to violate the anti-bribery provisions of the FCPA with the DOJ and misappropriation-based fraud charges with the CFTC stemming from a scheme to pay bribes to Brazilian government officials to obtain business from Petróleo Brasileiro S.A.

Jonathan Sack provides insight into the complex terms of the settlement including enhanced compliance reporting requirements, which increase risk to Freepoint’s senior officers by making them individually responsible for confirming the implementation of corporate reforms; the importance of scrutinizing third-party relationships and implementing policies regarding conflicts of interest and customer relationships; appropriate remediation and compliance efforts; and ongoing cooperation. This article underscores Jonathan’s expertise in corporate settlements, FCPA, and international anti-corruption matters.

Obligations Linger Despite Freepoint’s Settlements with DOJ and CFTC (pdf | 195.31 KB)