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Matteson Ellis Quoted on Colombian Conglomerate DOJ and SEC FCPA Resolution in Anti-Corruption Report

"Colombian Conglomerate Resolves DOJ and SEC FCPA Charges"

Anti-Corruption Report

Colombia's Grupo Aval and its subsidiary, Corporación Financiera Colombiana (Corficolombiana), reached a resolution with the DOJ and the SEC for violating the Foreign Corrupt Practices Act (FCPA). Corficolombiana is accused of conspiring to pay over $23 million in bribes to Colombian officials from 2012 to 2015 to secure a 328-mile highway project. Matteson Ellis provided his perspective to The Anti-Corruption Report on what this case means for the compliance community. "Colombian authorities have provided assistance in numerous FCPA investigations in the past, and the FBI has had agents stationed in Colombia to investigate FCPA cases at various periods throughout the past six years," noted Ellis.