World Acceptance Corp. Resolves “Bags of Cash” Allegations With SEC, Winning DOJ Declination

The facts alleged in World Acceptance Corp.’s settlement with the SEC “read like a case out of time,” said Gary Rubin, a member at WTAII PLLC. “For more than a decade, many companies have implemented ever-evolving compliance programs governing even the most minor aspects of their good-faith interactions with government officials,” he noted. In contrast, World Acceptance Corp.’s $21 million settlement “reminds us of the big picture: that old-fashioned bad-faith bribery … still exists and should be a compliance focus,” Rubin said. It also serves as a reminder that doing business in Mexico comes with a certain measure of risk. See “Progress and Continuing Challenges in Implementing Mexico’s Anti-Corruption Regime” (Jul. 24, 2019).

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