Tuesday, October 26, 2010

2 Southern California Execs Indicted In FCPA Case

Keith E. Lindsey, 65, of La Canada, California and the president of Lindsey Manufacturing Co., and Steve K. Lee, 60, of Diamond Bar, California and Lindsey's CFO, were both charged with eight felony counts, including conspiracy to violate the Foreign Corrupt Practices Act and money laundering in connection with the alleged bribery of a Mexican official identified as "N.M." in exchange for lucrative contracts. Prosecutors allege that Lindsey and Lee paid more than $5 million to an intermediary to purchase a luxury yacht and a Ferrari, among other things, for the Mexican official, believed to be Nestor Moreno, who recently resigned as director of operations for Mexico's national electric utility. Also indicted were Enrique Aguilar Noriega, 56, and his wife Angela Gomez Aguilar, 55, both of Cuernavaca, Mexico, who acted as the intermediary in the scheme.

Read the story here and here.

Read the DOJ announcement here.

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