Wednesday, February 4, 2009

Former Executive Of California Valve Company Pleads Guilty To Bribing Foreign Officials

Richard Morlok, 55, of Rancho Santa Margarita, California and the former finance director of Control Components, Inc., pleaded guilty yesterday to paying some $628,000 to foreign officials of state-owned enterprises in return for contracts with the valve company in violation of the Foreign Corrupt Practices Act. The bribery scheme went on between 2003 and 2006, according to prosecutors. An associate of Morlok, Mario Covino, pleaded guilty to similar charges last month. Morlok faces up to 5 years in prison, plus fines.

Read FraudTalk's earlier post on this story here.

Read the story here and here.

Read the DOJ's announcement here.

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