Margot Laporte Comments on CEFC Corruption Trial in Bloomberg BNA
"CEFC May Come Under Scrutiny as U.S. Bribery Case Gets Underway"
Margot Laporte commented on the case of Chi Ping "Patrick" Ho, a former Hong Kong government official who ran the nonprofit arm of CEFC China Energy Co. and is on trial in federal court in New York on bribery and money-laundering charges. Ho allegedly paid millions in bribes to officials in Chad and Uganda to secure oil exploration rights for CEFC, which reportedly has ties to the Chinese government, and some are hoping the trial will shed light on the company's activities. Prosecutors said bribes were paid from a New York bank and arranged at meetings at the United Nations. The case suggests that "the Justice Department continues to take a very broad and aggressive approach to foreign corruption," Laporte said, which "may also signal that the DOJ continues to view China as a high-risk jurisdiction for foreign corruption."