Man Who Owned Two US Companies Pleads Guilty to FCPA Charges
A New Jersey man who owned two U.S. companies involved in supplying naval goods and services, pleaded guilty to violating the Foreign Corrupt Practices Act after he bribed a South Korean government official, the Justice Department said Dec. 17. The agency said Deck Won Kang paid $100,000 in bribes to a Korean official to obtain and retain contracts with South Korea’s Defense Acquisition Program Administration (DAPA), a state-owned and -controlled defense agency.
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From 2009 through 2013, Kang used the bribes to benefit his company, which supplied naval equipment and technology to DAPA, Justice said. Kang said he promised to provide two South Korea officials with “something of value” when they left office. In exchange, one of the officials gave Kang “non-public information” to help Kang’s companies obtain the contracts. After the official retired from the DAPA, Kang transferred $100,000 in bribe payments to the official from Kang’s U.S. bank account, via a bank account in Australia.