HW Wood unable to pay $22.5mn DoJ fine in Ecuadorean bribery case
  • X
  • LinkedIn
  • Email
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
  • Email
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Cookies Settings

HW Wood unable to pay $22.5mn DoJ fine in Ecuadorean bribery case

Jairo Ibarra
22 November 2023
  • X
  • LinkedIn
  • Email
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
  • Email
Legal office of lawyers, justice and law concept : Wooden judge gavel or a wood hammer and a soundboard used by a judge person on a desk in a courtroom with a blurred brass scale of justice behind.

The US Department of Justice has reduced HW Wood’s fine to $508,000 from a $22.5mn penalty and a $2.3mn forfeiture due to the Lloyd’s broker’s “demonstrated inability” to pay.

The fine and forfeiture resulted from the US DOJ’s investigation into violations of the Foreign Corrupt Practices Act (FCPA) arising from HW Wood’s alleged participation in a corrupt scheme to pay bribes to Ecuadorian government officials.

In

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Take a free trial Already a subscriber? Login now

Topics

NewsLegalRegulationTysers
jairo ibarra 2024 ii red 2.png
Jairo Ibarra
Senior Reporter
Contact
Gift this article