Lockheed and Birth of the FCPA
The Corruption Files31 Maj 2024

Lockheed and Birth of the FCPA

What is stranger than fiction? The stories of worldwide corruption. In this podcast series, co-hosts Tom Fox, the Voice of Compliance and Mike DeBernardis, partner at Hughes Hubbard discuss some of the most audacious corruption cases in anti-corruption enforcement. More importantly, they will discuss the lessons learned on what your organization can do to prevent running afoul of international anti-bribery laws. In this first episode of Season 2, Tom and Mike review the Lockheed corruption scandal which led directly to the passage of the FCPA. The discussion covers the significant bribery and corruption charges that led to the creation of the Foreign Corrupt Practices Act (FCPA). The hosts explore the international political fallout from the scandal, its impact on various countries including Japan, Italy, and the Netherlands, and the consequences for Lockheed. The episode highlights how the case influenced the development of anti-bribery laws worldwide and the roles played by figures like Stanley Sporkin in shaping these regulations. The conversation also touches on the ongoing challenges in combating corruption in the aerospace industry and its global implications. Key Highlights · The Lockheed Scandal: An Overview · High-Level Corruption and Its Unveiling · International Repercussions of the Lockheed Scandal · The Birth of the FCPA · Modern Implications and Compliance Resources Mike DeBernardis on LInkedIn HughesHubbardReed Tom Fox Instagram Facebook YouTube Twitter LinkedIn Texas Tax rate at 80% of 8.25%

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