US MONEY MANAGEMENT FIRM SETTLES WITH JUSTICE DEPARTMENT IN LIBYAN BRIBERY PROBE

The Seattle Times on 5th June reported that a Baltimore-based money management firm has settled a DoJ probe of an affiliate that managed investments for the Gadhafi Libyan government.  Legg Mason is said to expect a $71 million settlement with the DoJ covering financial penalties and other costs. A separate settlement with the SEC is expected soon.

https://www.seattletimes.com/business/firm-settles-with-justice-department-in-libyan-bribery-probe/?src=ilaw

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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