ICBL Receives Declination with Disgorgement

Credit to The FCPA Blog

Barbados insurance company receives declination with disgorgement

The Insurance Corporation of Barbados Limited (ICBL) received a declination with disgorgement from the DOJ Thursday for FCPA offenses related to bribing a Barbadian official.

Under the terms of the declination pursuant to the DOJ’s Corporate Enforcement Policy, ICBL paid the DOJ about $93,900 in disgorged profits.

The DOJ said agents and employees of the Barbados-headquartered company paid around $36,000 to a Barbadian government official, Donville Inniss, in exchange for $686,000 worth of insurance contracts.

Inness was a member of the parliament of Barbados and the Minister of Industry, International Business, Commence, and Small Business Development at the time.

The DOJ said Inness laundered the money in the United States through a New York-based dental company owned by his friend.

The DOJ gave ICBL credit for its timely and voluntary self-disclosure, thorough investigation, and remediation through firing of the individuals involved, among other factors.

ICBL is the first declination with disgorgement under the FCPA Corporate Enforcement Policy (pdf) that went into effect in November 2017.

The new policy made the FCPA Pilot Program permanent and incorporated it, with some changes, into the U.S. Attorneys’ Manual.

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Harry Cassin, pictured above, is the managing editor of the FCPA Blog.

153 comments

  • pieceuhderockyeahright

    @ the Sage Annunaki and WARU

    I see that the two of wunna baiting de ole man to comment on the erratic remarks of one European out patient!

    The comments he has been mankind for the last few hours are consistent with those of suspects at district A Police Station whose *** and balls were slammed in the station sargeant’s drawers.

    The ones in the desk not the other ones heheheheh

    Oh Sage Annunaki you sais ant i quote “…the point remains that there is absolutely no comparison between the Bajan ‘Intelligence’ agencies and the security management and crime fighting abilities of those law enforcement agencies in the UK…”

    And no amount of bath in in a plastic bag over my head will cause me to retract my agreement with that statement ELSE WE WOULD HAVE HAD A FEW ARRESTS AT ICBL and maybe even Rommell Marshall heheheheh

    Like

  • pieceuhderockyeahright

    Baygon not bath in ***

    Like

  • Rommel should be getting a 25 year prison sentence under the new integrity legislation act, he is still a pimp for CGI/Harris…that was a massive bribe he took to sell out the Transport Board…..if only the drafters of the same integrity legislation were not trying to hoodwink the population by setting the statute of limitations to 2 years only, instead of making it retroactive to 20 years…. in their desperate attempts to cover their own asses from some prison time for THEIR corrupt practices while in government and sitting on the supreme court bench back then…in the 90s-2008.

    Like

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