Millicom International Cellular, an international telecommunications company headquartered in Luxembourg with a principal place of business in Florida, has agreed to a two-year deferred prosecution agreement (DPA) resolving FCPA allegations linked to its Guatemalan subsidiary, Comunicaciones Celulares. The settlement demonstrates that the DOJ is still pursuing FCPA cases, at least when there are links to narco-trafficking. It also highlights the risks of entering into a joint venture with majority ownership but no control. The Anti-Corruption Report interviewed practitioners from McDermott Will & Schulte, Ropes & Gray and Vinson & Elkins for their perspectives on the investigation and the resulting DPA, including what they indicate about the DOJ’s approach to FCPA enforcement in the second Trump administration. See “Assessing the Criminal Division’s New Enforcement Focuses” (Jun. 18, 2025).