DOJ recently announced (here) its FY 2011 budget request. The budget request includes a $235 million increase over the FY 2010 enacted appropriation, "including 708 new positions (143 agents and 157 attorneys) to restore confidence in our markets, protect the federal treasury and defend the interests of the U.S. Government."
Included in the $235 million figure (see here) is "$550,000 and 5 positions (3 attorneys) to increase [the Criminal Division's] capacity prosecute crimes of financial and mortgage fraud, procurement and grant fraud, and violations of the Foreign Corrupt Practices Act."
Not exactly a figure that "knocks one's socks off," but nevertheless consistent with repeated DOJ statements about a ramp-up in FCPA resources and enforcement.
The SEC's budget justification (here) does contain any FCPA specific language.
*****
Perhaps it's because my favorite show, Mike Rowe's Dirty Jobs on the Discovery Channel, recently profiled this company (see here). In any event, PBS&J continues to make news and continues to intrigue even though the whole issue, at least it seems, involves a relatively minor potential FCPA issue. This week, Florida media (here) reports that the company's CEO, John Zumwalt, has resigned. The article notes that up until summer 2009, Zumwalt was also the President of PBS&J International, the subsidiary that has become the focus of an FCPA internal investigation. See here for prior posts. According to the article, Zumwalt will continue as Chairman of the company's board. Should PBS&J become the focus of an enforcement action, it will be interesting to follow as the company has millions of public sector contracts.
Included in the $235 million figure (see here) is "$550,000 and 5 positions (3 attorneys) to increase [the Criminal Division's] capacity prosecute crimes of financial and mortgage fraud, procurement and grant fraud, and violations of the Foreign Corrupt Practices Act."
Not exactly a figure that "knocks one's socks off," but nevertheless consistent with repeated DOJ statements about a ramp-up in FCPA resources and enforcement.
The SEC's budget justification (here) does contain any FCPA specific language.
*****
Perhaps it's because my favorite show, Mike Rowe's Dirty Jobs on the Discovery Channel, recently profiled this company (see here). In any event, PBS&J continues to make news and continues to intrigue even though the whole issue, at least it seems, involves a relatively minor potential FCPA issue. This week, Florida media (here) reports that the company's CEO, John Zumwalt, has resigned. The article notes that up until summer 2009, Zumwalt was also the President of PBS&J International, the subsidiary that has become the focus of an FCPA internal investigation. See here for prior posts. According to the article, Zumwalt will continue as Chairman of the company's board. Should PBS&J become the focus of an enforcement action, it will be interesting to follow as the company has millions of public sector contracts.
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