Rio Spy Claim Case Shows SEC Probe Risk, Lawyers Say
July 22nd, 2009
Bloomberg
China’s detention of Rio Tinto Group executives amid allegations of espionage and bribery should serve as a reminder to foreign companies that they may also risk prosecution by U.S. enforcement agencies, lawyers said.
“It’s not just domestic law that may be involved,” said Richard Cassin, of Singapore-based law firm Cassin Law LLC. “The U.S. Foreign Corrupt Practices Act reaches everywhere.” London-based Rio is subject to the act prohibiting bribery of public officials as its shares trade in New York, he said.
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