Introduction

The third quarter of 2026 could be considered active under the new enforcement paradigm for the Foreign Corrupt Practices Act (FCPA). The U.S. Department of Justice (DOJ) brought a rare corporate action post FCPA-pause. The DOJ also focused on individual actions, both in securing convictions and in attempting to dismiss charges against the Adani defendants. In contrast to the DOJ's activities, the Securities and Exchange Commission (SEC) once again failed to engage in any meaningful FCPA activities in the third quarter. Internationally, there were a number of developments, including proposed updates to China’s anti-corruption law, an enforcement action against a French company for failing to maintain an anti-corruption program, and the conviction of a former President of Ecuador.

DOJ Updates

As reported in a separate Miller & Chevalier alert, on July 17, 2026, the DOJ announced a three-year deferred prosecution agreement (DPA) with the Scoular Company (Scoular), a Nebraska-based agricultural company that stores, processes, and transports grain, food, and animal feed ingredients, to resolve a charge of conspiracy to violate the FCPA anti-bribery provisions. In connection with the DPA, Scoular will pay over $10 million.  

Outside of Scoular, the DOJ focused on individual actions this past quarter. As discussed below, the DOJ secured the conviction of a Goldman Sachs executive on FCPA and money-laundering related charges for bribery of Ghanian officials. The DOJ also resolved corruption-related charges against the owners of a sports media company involved in bribing Fédération Internationale de Football Association (FIFA) officials for the media rights to soccer matches. Finally, a Venezuelan businessman and former official pleaded guilty for his role in a bribery and money laundering scheme involving a Venezuelan public welfare program.  

Controversially, the DOJ also sought to dismiss charges against Indian billionaire Gautam Adani and executives of his companies. The effort faced a skeptical judge in the Eastern District of New York (EDNY), who requested multiple briefings from Principal Associate Deputy Attorney General R. Trent McCotter to justify the dismissals. The DOJ also sought to end Freepoint Commodities LLC's DPA four months early, which a district judge granted.

The DOJ engaged in restructuring and recruiting in the third quarter. The DOJ renamed the Fraud Section, which houses the FCPA Unit, the "White Collar and Corporate Enforcement Section." The FCPA Unit took preliminary steps to rebuild following the mass departures over the past 18 months, including issuing a hiring notice and adding new prosecutors.

Other U.S. Developments

Other parts of the government were active, with the U.S. Department of State, on September 9, 2026, designating seven former Ecuadorian officials under Section 7031(c) of the National Security, Department of State, and Related Programs Appropriations Act, which will bar the officials' entry into the United States. The Department of State alleged that the officials accepted bribes to help Foreign Terrorist Organizations (FTOs).

The United States informed the Council of Europe on September 29, 2026, that it intends to withdraw from the Group of States against Corruption, known as GRECO. GRECO monitors member states' compliance with legal instruments issued by the Council of Europe which address various anti-corruption efforts, including criminalization of corruption, conduct of public officials, and financing of political parties.  

International Developments

The third quarter featured several international developments related to anti-corruption regulation and enforcement. China is considering a draft law to address cross-border corruption. The law would promote external and internal cooperation in cross-border corruption matters. However, the law would also preserve China's ability to take countermeasures when foreign anti-corruption actions are deemed discriminatory or harmful to China.

Turning to Europe, Swiss authorities convicted a banker for bribing a Kuwaiti official in exchange for directing government business to the bank where he was partner. Pursuant to Sapin II, the French Anti-Corruption Agency imposed a direct monetary sanction on a company that failed to implement mandatory anti-corruption compliance measures, fining the company approximately $394,000 and its CEO approximately $67,500. The Organisation for Economic Co-operation and Development (OECD) Working Group on Bribery issued several Phase 4 reports evaluating member states' implementation of the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions.

In South America, Ecuador's National Court of Justice convicted former President Lenín Moreno of bribery for his role in a $76 million scheme tied to the nearly $2 billion contract to build the country's largest hydroelectric plant. The court found that Moreno, who was president from 2017 to 2021, participated in the scheme while serving as Vice President under President Rafael Correa, from 2007 to 2013. 

DOJ Developments

DOJ Developments Impacting the FCPA Unit

On August 10, 2026, the DOJ rebranded its "Fraud Section" to the "White Collar and Corporate Enforcement Section." The renamed section continues to be situated within the Criminal Division and maintains the following units: Health & Safety; Securities, Market and Private Fund Fraud; Foreign Corrupt Practices Act (FCPA); and Corporate Enforcement and Compliance (CEC). The announcement resolves some of the uncertainty concerning the Fraud Section's future following the announcement of the National Fraud Enforcement Division (the Fraud Division) in the first quarter of 2026. 

According to the updated page on the DOJ website, the White Collar and Corporate Enforcement Section "investigates and prosecutes complex cases involving white collar and corporate crime, including financial fraud, foreign corruption, and crimes that threaten public health and safety." By contrast, the Fraud Division is tasked with "investigat[ing] and prosecut[ing] those who commit fraud against the American people," by focusing on, for example, coordination and detection efforts for fraud against "taxpayer-funded programs."  

Notwithstanding the renaming of the Fraud Section and slow enforcement activity, the decision to retain the FCPA Unit within the White Collar and Corporate Enforcement Section rather than folding it into the Fraud Division signals that the DOJ remains committed to prosecuting acts of foreign bribery by corporations. Indeed, while headcount in the FCPA Unit has been significantly reduced (consisting of just seven prosecutors, down from 30 at the start of the Trump administration), a June hiring notice and statements by top DOJ leadership indicate that there will be a small but meaningful increase in staffing of the Unit, potentially leading to increased future enforcement. 

One example of the staffing changes is illustrated by the announcement that Joel Crespo, an Assistant U.S. Attorney (AUSA) for the District of Maryland, would be joining the FCPA Unit. Mr. Crespo's experience as an AUSA includes prosecuting matters involving money laundering, domestic bribery, racketeering, and drug trafficking. His experience aligns with the types of FCPA matters that the DOJ has stated and demonstrated it is prioritizing, as we detailed in our analysis of the Scoular resolution. 

On August 25, 2026, Marnee Rand was elevated to lead the CEC Unit one year after her predecessor, Andrew Gentin, left for private practice. Ms. Rand had previously worked for the Unit, and in addition to her new role, is also currently detailed to the Fraud Division as its "acting CEC chief" until February 2027. The CEC Unit is tasked with "working with and advising prosecution teams on the structural, monetary, and compliance components of corporate resolutions; evaluating corporate compliance programs and determining whether an independent compliance monitor should be imposed as part of a corporate resolution; and overseeing post-resolution matters, including the selection and oversight of monitors and compliance and reporting obligations."  

Freepoint DPA Ends Four Months Early 

On August 24, 2026, the three-year DPA of Freepoint, a commodities trading company based in Connecticut, ended four months early when a judge in the U.S. District Court for Connecticut granted the DOJ's motion to dismiss the criminal information against the company. As detailed in our Winter 2024 Review, in connection with a Petrobras-related bribery scheme, Freepoint entered into its DPA with the DOJ to resolve a charge of conspiracy to violate the FCPA's anti-bribery provisions and accepted an Order by the Commodity Futures Trading Commission (CFTC) for violations of the Commodity Exchange Act's (CEA) anti-manipulation and anti-fraud provisions. 

According to the DOJ, in May 2026, Freepoint certified that it had complied with the DPA's disclosure requirements (paragraph 6 of the DPA) and compliance program obligations (paragraphs 14-16 of the DPA). The DOJ stated that Freepoint paid the required penalty and forfeiture, and "full[y] cooperat[ed] with the Government and satisf[ied] [] the terms of the provisions regarding self-reporting, and…its obligations to implement an enhanced compliance program and procedures." The DOJ's motion requested that the Court dismiss with prejudice the criminal information against Freepoint because the company had fully complied with the DPA. The dismissal continues the trend of early dismissals of FCPA resolutions or closure of similar investigations, which we have been tracking since the second quarter of 2025 (see here and here). 

Former Goldman Sachs Executive Found Guilty in Ghana Bribery Scheme 

On August 6, 2026, a federal jury in the EDNY convicted former Goldman Sachs banker Asante Kwaku Berko (Berko) of conspiracy to violate the anti-bribery provisions of FCPA, violating the anti-bribery provisions of the FCPA, and conspiracy to commit money laundering. Berko's conviction comes approximately six years after he was indicted and two years after the U.K. extradited him to the U.S. 

As discussed in the indictment and the DOJ's press release announcing Berko's conviction, between approximately December 2014 and March 2017, Berko participated in a scheme to bribe Ghanaian government officials to secure a power plant project for Goldman Sachs client Aksa Enerji Uretim A.S. (Aksa). Goldman Sachs was a partial owner of Aksa and intended to provide financing for the power plant if the project moved forward. 

To build the power plant, Aksa first needed to submit a winning bid and obtain various Ghanaian government approvals. To ensure Aksa won the project, Berko and his unnamed co-conspirators paid more than $1 million in bribes to relevant Ghanaian officials, including officials serving in the Ministry of Power, the Parliament, and other Ghanaian regulatory and state-owned entities. The scheme involved two Ghanaian consulting companies, which would issue false invoices to Aksa to collect funds for the bribe payments and obtain reimbursement for bribes previously paid, including bribes paid by Berko. After Aksa successfully obtained the power plant project, Berko participated in negotiating a contract between Aksa and one of the consulting companies that provided for $42 million in continuing payments from Aksa. 

In 2015, Goldman Sachs became suspicious of Aksa's payments to one of the consulting companies and began conducting due diligence into the power plant project. Goldman Sachs conducted an email review, which uncovered the use of various personal email accounts, including by Berko, Ghanaian officials, and consulting company employees. Goldman Sachs also inquired about the services provided by the consulting company, and Aksa personnel informed Goldman Sachs that the consulting company was providing "local services." Goldman Sachs ultimately did not provide financing for the project. 

Berko's sentencing hearing is currently scheduled for November 10, 2026. He previously settled civil FCPA charges related to the same conduct with the SEC in 2021, as discussed in detail in the FCPA Summer Review 2021.

Full Play Owners Enter into DPAs in FIFA Bribery Case

On August 27, 2026, Hugo Jinkis and Mariano Jinkis (the Jinkis), Argentine citizens and co-owners of the sports media and marketing company Full Play Group S.A. (Full Play), entered into one-year DPAs with the DOJ to resolve charges of conspiracy to commit wire fraud, in violation of 18 U.S.C. §§ 1349 and 1343, arising from a scheme to bribe executives at FIFA and related organizations for media rights to certain soccer events. Under the DPAs, the Jinkis admitted their involvement in the bribery scheme and agreed to forfeit $50 million. The DPAs resolve the long-running U.S. prosecution of the Jinkis, who were originally indicted in 2015 as part of the broader FIFA corruption investigation and remained fugitives until last May, when they traveled to New York from Buenos Aires to negotiate with U.S. prosecutors. 

As part of the resolution, the Jinkis admitted (here and here, respectively) that beginning in the 1990s and continuing through May 2015, they and their co-conspirators paid "tens of millions of dollars" in bribes to soccer executives – including executives at FIFA, two of FIFA's continental confederations, CONCACAF and CONMEBOL, and other soccer federations – in exchange for the executives' support in awarding lucrative media and marketing rights for various soccer tournaments and matches to the Jinkis. As a result of this scheme, the Jinkis obtained the media and marketing rights to the 2015, 2019, and 2023 Copa América and 2016 Copa América Centenario tournaments as well as broadcasting rights for certain World Cup qualifying and non-qualifying friendly matches. Initially, the Jinkis obtained these rights for Full Play, but this led to a commercial dispute with Full Play's sports media competitors. Full Play and its competitors resolved the dispute by creating a new entity, Datisa S.A., that received the media and marketing rights for these tournaments through this same scheme. 

The Jinkis also assisted another sports media company, T&T Sports Marketing Ltd., with executing similar corrupt payments to obtain media and marketing rights for certain soccer tournaments, including Copa Libertadores. 

The Jinkis and their co-conspirators used off-the-books companies and intermediaries to facilitate and conceal the bribe payments. As a result of the bribery scheme, FIFA and the related soccer organizations received less than fair market value for those media rights. 

As discussed in detail in the FCPA Summer Review 2026, Full Play was also prosecuted as part of the broader FIFA corruption investigation and convicted in 2023 for its involvement in the bribery scheme, alongside former Fox executive Hernan Lopez. However, on May 27, 2026, the district court dismissed the charges against Full Play and Lopez at the DOJ's request, following the Supreme Court's decision to vacate prior appellate rulings against them. The DOJ stated that dismissal was "in the interest of justice," reflecting a shift in enforcement priorities. The dismissals did not affect the remaining convictions arising from the broader FIFA investigation.

Maduro Associate Alex Nain Saab Morán Pleads Guilty to Money Laundering

On September 15, 2026, Alex Nain Saab Morán (Saab), a businessman and former Venezuelan Minister of Industry and National Production, pleaded guilty for his role in a bribery and money laundering scheme tied to the former Maduro regime. Under the plea agreement, Saab pleaded guilty to conspiracy to launder monetary instruments in violation of 18 U.S.C. §1956(h). Saab also agreed to cooperate in continuing federal investigations and forfeit $195 million in criminal proceeds. 

In his factual proffer, Saab admitted to conspiring to obtain contracts and illegally profit from the Comités Locales de Abastecimiento y Producción (CLAP), a Venezuelan public welfare program. According to the proffer, Saab and his co-conspirators systematically used bribes and illegal payments to receive lucrative contracts to import food and medicine under the CLAP program. The conspirators then underperformed their contractual obligations to provide food and medicine by using fake companies, false invoices, and other fraudulent documents to siphon hundreds of millions of dollars for personal gain. Saab's factual proffer concedes that the scheme succeeded because it was approved of and protected by high-level officials within the Venezuelan government. 

The DOJ previously charged Saab in 2019 with conspiracy to commit money laundering in relation to a contract designed to build low-income housing in Venezuela. However, President Biden granted Saab clemency as part of a 2023 prisoner exchange. Regarding the new charges, U.S. Attorney Jason A. Reding Quiñones for the Southern District of Florida stated that "This case sends a clear message: political connections, wealth, and proximity to a corrupt regime will not put anyone beyond the reach of American justice." Saab's agreement to cooperate with ongoing federal investigations may provide U.S. authorities with additional insight into corruption and money laundering schemes involving the Maduro regime and related commercial actors.  

As of the time of publication, Saab's sentencing hearing is scheduled for January 20, 2027. He faces a maximum penalty of 20 years in prison.

DOJ Second in Command Asks Appeals Court to Break Deadlock in Adani Corruption Prosecution  

On September 28, 2026, Acting Deputy Attorney General Trent McCotter petitioned the U.S. Court of Appeals for the Second Circuit for a writ of mandamus directing District Judge Nicholas Garaufis to grant the government's motion to dismiss the charges against the remaining defendants in a high-profile bribery case tied to Indian billionaire Gautam Adani. This petition is the latest development in a case marked by accusations of undue influence and prosecutorial decisions resulting in the withdrawal and termination of career DOJ prosecutors. Miller & Chevalier last reported on this case in our FCPA Summer Review 2026. 

In November 2024, the DOJ unsealed a five-count indictment against Gautam Adani, Indian billionaire and chairman of the Adani Group, and Adani Green Energy executives Sagar R. Adani and Vneet Jaain. The indictment, filed in the EDNY, alleged that the three men participated in a bribery and fraud scheme involving over $250 million in corrupt payments to Indian government officials to obtain solar energy supply contracts worth over $2 billion for Adani Green Energy. Prosecutors further alleged that the defendants concealed the bribery scheme while raising money from U.S. and international investors. The indictment charged Adani and the two executives with conspiracy to commit securities and wire fraud, and substantive securities fraud. 

The indictment also charged former Azure Power executives Ranjit Gupta and Rupesh Agarwal, as well as former La Caisse employees Cyril Cabanes, Saurabh Agarwal, and Deepak Malhotra, with conspiring to violate the FCPA in connection with Adani's alleged bribery scheme. Azure Power participated alongside Adani Green Energy in the solar energy project at the center of the alleged scheme, while La Caisse, a Canadian institutional investor and U.S. issuer, held a controlling interest in Azure Power. Prosecutors also alleged that the five individuals conspired to obstruct the grand jury, Federal Bureau of Investigations (FBI), and SEC investigations by, among other things, agreeing to delete electronic materials related to the corrupt scheme, to withhold information from investigators, and to deny their participation in the conduct. 

In an action that presiding Judge Nicholas Garaufis later characterized as "highly unusual," Principal Associate Deputy Attorney General R. Trent McCotter (now Acting Deputy Attorney General) moved to dismiss the charges on May 18, 2026. In a Rule 48(a) Motion, the DOJ requested that the Court dismiss the indictment with prejudice, stating that the "Department of Justice has reviewed this case and has decided, in its prosecutorial discretion, not to devote further resources to these criminal charges against individual defendants."  

Reports indicate that this request for dismissal followed a meeting between Adani's lawyers and the DOJ in Washington, D.C. during which Adani's newly appointed counsel reportedly expressed Adani's willingness to invest $10 billion in the U.S. economy and create 15,000 jobs in exchange for prosecutors dropping the charges. 

In response to the May 18, 2026, letter by McCotter, Judge Garaufis issued an Order on June 26, 2026, explaining that the Rule 48(a) Motion requires prosecutors "to supply sufficient reasons" to support its request for dismissal. Judge Garaufis wrote that the government's "terse, bland, and conclusory statement affords the court neither a sufficient basis to reach any conclusion, nor the opportunity to conduct any analysis of the Government's request for dismissal." 

In defending the DOJ's decision to unwind the prosecution, McCotter filed a response on July 4, 2026, arguing, among other things, that India had a stronger interest in prosecuting the alleged misconduct, that the U.S. prosecution could cause "diplomatic strife" between the two nations, that the prosecution would "waste resources" better spent on domestic issues, and that there were no victims' interests to vindicate. McCotter further argued that the FCPA prosecution did not align with DOJ's foreign-bribery enforcement priorities reflected in the June 9, 2025, Memorandum issued by then-Deputy Attorney General Todd Blanche (the Blanche Memorandum) following the FCPA enforcement pause. In particular, McCotter argued that the Blanche Memorandum directed prosecutors to focus on cases involving payments to drug cartels and transnational criminal organizations, cases that protect fair opportunities for U.S. companies, cases that advance U.S. security interests, and cases involving serious misconduct. The conduct at issue here, McCotter argued, did not align with those priorities. 

In the July 4 letter, McCotter also volunteered "non-considerations" for his decision to dismiss the charges. Specifically, McCotter referenced "breathless reporting relying on anonymous sources" and denied the suggestion that he sought dismissal of the securities charges based on "some promise" by the defendants "to invest money into the United States." 

Concerned that McCotter's response raised "for the first time… the specter of a possible agreement," Judge Garaufis issued an Order on July 8 directing Gautam Adani to submit an affidavit regarding the alleged agreement. Adani denied that anything had been promised or agreed to in connection with the dismissal but acknowledged that his counsel had proposed his $10 billion U.S. investment as part of a potential resolution. In a separate affidavit, Adani's counsel confirmed raising the proposal with DOJ and provided an email from U.S. Attorney Joseph Nocella in which the U.S. Attorney's Office "categorically rejected" it. 

The affidavits prompted the court to seek a declaration from Nocella, whose office had rejected the investment proposal. In his affidavit, Nocella confirmed that McCotter, his direct supervisor, made the decision to seek dismissal and that Nocella had neither participated in drafting McCotter's letter nor independently decided to dismiss the case. Nocella further stated that he had no basis to believe McCotter's stated reasons for dismissal were not the actual reasons.

Other U.S. Developments

U.S. State Department Designates Former Ecuadorian Officials for Involvement with Foreign Terrorist Organizations

On September 9, 2026, the U.S. Department of State designated seven former Ecuadorian officials for accepting bribes from certain criminal organizations that the U.S. government previously designated as Foreign Terrorist Organizations (FTOs) in 2025.

The designated individuals include four former judges, a former court official, a former prison director, and a former legislator. According to the State Department, these individuals accepted bribes in exchange for interfering with unspecified judicial, electoral, or public processes to benefit certain FTOs, including Los Choneros, Los Lobos, the Cartel Jalisco Nueva Generación, the Sinaloa Cartel, and Ecuadorian gangs linked to those organizations.

The State Department stated that the Ecuadorian officials' conduct undermined U.S. security by facilitating drug trafficking and reiterated that the United States will continue to deny entry to individuals who support or facilitate the activities of designated organizations. Under Section 7031(c) of the National Security, Department of State, and Related Programs Appropriations Act, designated individuals and their immediate family members are generally ineligible for entry into the United States.

United States to Withdraw from GRECO

Press accounts report that the United States informed the Council of Europe on September 29, 2026, that it intends to withdraw from the Group of States against Corruption, known as GRECO. GRECO monitors member states' compliance with legal instruments issued by the Council of Europe that address various anti-corruption efforts, including criminalization of corruption, conduct of public officials, and financing of political parties. The State Department issued a statement to media outlets justifying the withdrawal, noting "The era of writing blank checks to international bureaucracies is over. The department is instead prioritizing higher-impact tools to combat corruption, such as visa restrictions, sanctions, and targeted foreign assistance to strengthen foreign criminal investigations into corruption directly threatening U.S. security and prosperity." The United States joins Russia and Belarus as the only countries to withdraw from GRECO. The organization will consist of 47 member countries after the United States formally departs.

International Developments

French Anti-Corruption Agency Imposes First-Ever Direct Penalty for Compliance Failures

On July 9, 2026, Agence Française Anticorruption (AFA), France's anti-corruption agency, imposed its first-ever direct monetary sanctions under Sapin II, the country's anti-corruption law. The AFA fined the unnamed company €350,000 (approximately $394,000) and its CEO €60,000 (approximately $67,500) for failing to implement several mandatory anti-corruption compliance measures.

In the decision, the sanctions commission confirmed that Sapin II authorizes the AFA to impose direct monetary sanctions, rather than requiring a prior compliance injunction. The commission further held that subsequent remediation may mitigate penalties but does not eliminate liability for compliance deficiencies identified during the AFA's sanction-based review.

Additionally, the commission imposed personal liability on the company's CEO, finding that he played an essential role in the company's governance and had responsibility to implement compliance measures according to the law. His failure to do so resulted in his personal liability.

The decision serves as a reminder that compliance obligations under Sapin II are independently enforceable, and companies and senior executives may face direct monetary sanctions for compliance failures alone.

OECD Issues Several Phase 4 Reports

Over the past year, the OECD released several Phase 4 reports regarding the implementation of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (the Convention). The Convention utilizes a framework of systematic monitoring and follow-up reports overseen by the OECD Working Group on Bribery (the Working Group) to ensure compliance and provides state parties with an objective assessment of their progress in implementing the Convention. Launched in 2016, the fourth phase of monitoring examines legislative and institutional developments, evaluates the effectiveness of enforcement, detection, and corporate liability frameworks, and assesses progress on unresolved recommendations from earlier review phases.

The OECD's June 2026 Phase 4 report on Latvia illustrates a common theme in recent OECD reviews: acknowledging progress while identifying areas requiring further reform. The Working Group recognized substantial progress in Latvia's implementation of the Convention, citing reforms to its foreign bribery, whistleblower, and anti-money laundering frameworks, the establishment of a specialized Economic Affairs Court, and the nation's first successful foreign bribery cases resulting in sanctions against legal persons. Nevertheless, the OECD maintained that further efforts are required to address both continuing and emerging corruption challenges. The Working Group issued several recommendations to assist Latvia's implementation of the Convention, including guidelines for strengthening foreign bribery detection, incentivizing corporate self-reporting, and maintaining sufficient institutional resources and expertise to investigate and prosecute complex foreign bribery cases.

The OECD's June 2026 Phase 4 report on the Slovak Republic acknowledged significant progress since Phase 3, particularly through the adoption of a whistleblower protection framework and new corporate liability legislation. However, the Working Group found that a combination of recent legislative and institutional changes, including the abolition of the Special Prosecutor's Office, attempts to dismantle the Whistleblower Protection Office, amendments to the Criminal Code, and a shortened statute of limitations period for corruption offenses, risked severely impairing the Slovak Republic's enforcement of corruption offenses. Slovakia's Phase 4 report concluded with a set of clear and concise recommendations for how the Republic can enhance the detection and enforcement of foreign bribery, increase the liability of legal persons, and combat foreign bribery through tax measures.

Former Ecuadorian President Convicted in $76 Million Corruption Scheme

On August 28, 2026, Ecuador's National Court of Justice convicted former President Lenín Moreno of bribery for his role in a $76 million scheme tied to the nearly $2 billion contract to build Coca Codo Sinclair, the country's largest hydroelectric plant. The court found that Moreno, who was president from 2017 to 2021, participated in the scheme while serving as Vice President under President Rafael Correa from 2007 to 2013.

According to the Attorney General's Office, between 2009 and 2018, a corruption network involving the Chinese state-owned company Sinohydro paid approximately $76.1 million in bribes to Ecuadorian public officials. Investigators found that the funds were paid to both the officials themselves and other related beneficiaries, including Moreno's family members and business associates, through shell companies and offshore bank accounts. The investigation concluded that Moreno and his circle received more than $1 million in bribes. Nineteen other defendants were also convicted, including Moreno's wife, daughter, two brothers, and Cai Runguo, China's former ambassador to Ecuador.

The court sentenced Moreno to five years in prison and permanently barred him from holding public office. Because of his age (73) and disability, he will serve his sentence under house arrest. He may appeal the verdict.

China Releases Draft Anti-Cross-Border Corruption Law

On August 25, 2026, China's National Supervision Commission (NSC) submitted a draft Anti-Cross-Border Corruption Law to the Standing Committee of the 14th National People's Congress for review. The Standing Committee subsequently released the draft for a 30-day public comment period, which closed on September 26, 2026.

The draft primarily functions as a coordinating framework for China's cross-border anti-corruption efforts. Key provisions include:

• defining "cross-border corruption" to generally encompass corruption involving both domestic and foreign parties, as well as corrupt conduct occurring outside China's territory;
• promoting international anti-corruption cooperation, including collaboration under the United Nations Convention against Corruption and other international enforcement mechanisms;
• allocating responsibilities among government authorities involved in anti-cross-border corruption enforcement; 
• establishing corporate compliance expectations, including the implementation of compliance programs, internal reporting and investigation mechanisms, and the engagement of independent third-party compliance monitors or investigators where appropriate; 
• clarifying how existing Chinese administrative, civil, criminal, and other regulatory measures apply to cross-border corruption, including criminal liability, credit-related consequences, and the recovery of illicit proceeds; and
• introducing aggravating and mitigating circumstances that may affect the determination of penalties in cross-border corruption cases.

Notably, while the draft emphasizes international cooperation in combating cross-border corruption, it also preserves China's ability to take countermeasures under existing laws, including the Anti-Foreign Sanctions Law, where foreign anti-corruption measures are deemed discriminatory or harmful to China's sovereignty, security, or development interests. The draft further restricts foreign investigative activities in China and generally requires approval from the relevant Chinese authorities before evidence or investigative assistance may be provided to foreign parties. These provisions may create additional challenges for companies navigating parallel investigations by Chinese and foreign authorities.

The draft is currently at the first-reading stage and is pending one or two additional readings before it can be submitted for a vote. The draft law's inclusion among the Standing Committee's 2026 Legislative Agenda suggests that it could move relatively quickly through the remaining legislative process.

Former Swiss Bankers Association President Convicted of Foreign Bribery and Money Laundering

On September 8, 2026, the Swiss Federal Criminal Court (TPF) convicted Pierre Mirabaud, the former president of the Swiss Bankers Association, for bribery of foreign public officials and aggravated money laundering. The case was resolved under Switzerland's simplified criminal procedure, under which Mirabaud admitted the facts alleged in the indictment. Mirabaud received a two-year suspended prison sentence.

During the trial, Mirabaud admitted that, between 2000 and 2012, he sent approximately CHF 82 million (approximately $99 million) to a senior Kuwaiti official through nearly 300 transfers. The payment was in exchange for the official directing approximately $595 million from the Kuwait Public Institution for Social Security Fund (PIFSS) to Banque Mirabaud, where Mirabaud served as a partner until 2009 and a consultant until June 2012. According to media reports, the official used the PIFSS money to invest in funds managed by the bank. Media reports further state that Mirabaud obstructed the bank's compliance review of certain documents, preventing the compliance department from identifying the criminal nature of the payments made to the Kuwaiti official.

Pierre Mirabaud served as President of the Swiss Bankers Association from 2003 to 2009.

Miller & Chevalier Recent Publications and Podcasts

Podcasts

EMBARGOED! is intelligent talk about sanctions, export controls, and all things international trade for trade nerds and normal human beings alike, hosted by Miller & Chevalier. Each episode will feature deep thoughts and hot takes about the latest headline-grabbing developments in this area of the law, as well as some below-the-radar items to keep an eye on. Subscribe for new bi-monthly episodes so you don't miss out: Apple Podcasts | Spotify | Amazon Music | YouTube

Upcoming Speaking Engagements

Recent Publications

Editors: James G. Tillen, Alexandra Beaulieu

Contributors: Therese Kuester, Arooshe P. Giroti,* Angelo Márquez,** María Alejandra Ramírez,** William Ricks, Chenyang Wang

*Former Miller & Chevalier attorney

**Visiting law clerk

The information contained in this communication is not intended as legal advice or as an opinion on specific facts. This information is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. For more information, please contact one of the senders or your existing Miller & Chevalier lawyer contact. The invitation to contact the firm and its lawyers is not to be construed as a solicitation for legal work. Any new lawyer-client relationship will be confirmed in writing.

This, and related communications, are protected by copyright laws and treaties. You may make a single copy for personal use. You may make copies for others, but not for commercial purposes. If you give a copy to anyone else, it must be in its original, unmodified form, and must include all attributions of authorship, copyright notices, and republication notices. Except as described above, it is unlawful to copy, republish, redistribute, and/or alter this presentation without prior written consent of the copyright holder.