S.E.C. v. Elkin, Jr., et al.

The U.S. Securities and Exchange Commission (SEC) charged four employees of a company that sold tobacco internationally with bribing foreign officials. The SEC alleged that the employees paid several million in bribes over a period of nine years to officials in Kyrgyzstan and Thailand in order to purchase tobacco for the company’s customers. The four employees entered into a settlement agreement with the SEC. Although the employees did not admit guilt, the settlement agreement prohibits them from any future bribes, acts of corruption, or improper recordkeeping in violation of federal law. In addition, two of the employees were fined $40,000 each.

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S.E.C. v. Elkin, et al, Case 1:10-cv-0061 (RMU), US District Court for the District of Columbia (2010).

  • United States
  • Apr 28, 2010
  • US District Court for the District of Columbia

Parties

Plaintiff U.S. Securities and Exchange Commission

Defendant

  • Baxter J. Myers
  • Bobby J. Elkin, Jr.
  • Thomas G. Reynolds
  • Tommy Lynn Williams

Legislation Cited

Foreign Corrupt Practices Act of 1977 (FCPA)

Securities and Exchange Act of 1934

Related Documents

Type of Litigation

Tobacco Control Topics

Substantive Issues

Type of Tobacco Product

None