The U.S. Justice Department entered into 60 percent fewer pre-trial agreements with corporations seeking to avoid criminal prosecutions in 2008 than in the previous year, according to a study released Friday.
The U.S. Justice Department will more aggressively use legal tools to freeze assets and detect financial wrongdoing as part of a larger strategy to combat international organized crime, the department said today.
Sigue, based in San Fernando, Calif., will forfeit $15 million and spend $9.7 million to upgrade its AML program as part of a deferred prosecution agreement with the Justice Department. Fortent Inform first reported the record penalty on January 11.
The settlement, which involves a $15 million forfeiture and a $9.7 million commitment to upgrade anti-money laundering procedures, will be included in a deferred prosecution agreement that could be issued as early as next week, people familiar with the matter said.
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